PKR settles below 278 per dollar for first time since December 2024

MG News | July 16, 2026 at 04:12 PM GMT+05:00

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July 16, 2026 (MLN): The Pakistani rupee closed below the PKR 278-per-US dollar mark for the first time since December 9, 2024, after posting a marginal gain in Thursday's interbank session.

The local currency strengthened by 2.83 paisa against the US dollar to settle at PKR 277.97, compared with the previous close of PKR 278.00.

During the session, the local currency traded between an intraday high of PKR 278.05 and a low of PKR 277.95 against the greenback.

In the open market, exchange companies quoted the US dollar at PKR 278.25 for buying and PKR 279.05 for selling.

Against other major currencies, the rupee weakened by Rs1.08 versus the euro to settle at PKR 318.68, while it lost Rs4.24 against the British pound to close at PKR 375.92.

The local unit, however, appreciated by 5.65 paisa against the Swiss franc, ending the session at PKR 344.54.

Against the Japanese yen, the rupee slipped by 0.15 paisa to PKR 1.7148, while it also weakened by 16.78 paisa against the Chinese yuan to close at PKR 41.07.

Meanwhile, the rupee strengthened by 3.12 paisa against the Saudi riyal to PKR 74.02 and gained 0.98 paisa against the UAE dirham to settle at PKR 75.69.

So far in the current fiscal year, the rupee has appreciated by 18.82 paisa against the US dollar. On a calendar-year basis, it has gained Rs2.15.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates remained unchanged at 11.39% and 11.64%, respectively.

Performance Summary

Currency	Jul 16, 2026	Jul 15, 2026	1D		7D		1M		FYTD		CYTD
USD	277.9732	278.0015	0.0283	0.01%	0.0901	0.03%	0.3298	0.12%	0.1882	0.07%	2.1499	0.77%
EUR	318.6824	317.6028	-1.0796	-0.34%	-0.7448	-0.23%	4.0517	1.27%	-1.7593	-0.55%	10.1681	3.19%
GBP	375.9170	371.6741	-4.2429	-1.13%	-2.8534	-0.76%	-2.5596	-0.68%	-7.8956	-2.10%	1.2548	0.33%
CHF	344.5379	344.5944	0.0565	0.02%	0.3468	0.10%	5.5288	1.60%	-0.9167	-0.27%	8.6847	2.52%
JPY	1.7148	1.7133	-0.0015	-0.09%	-0.0020	-0.12%	0.0219	1.28%	-0.0008	-0.05%	0.0744	4.34%
SAR	74.0176	74.0488	0.0312	0.04%	0.0378	0.05%	0.1471	0.20%	0.0501	0.07%	0.6769	0.91%
AED	75.6863	75.6961	0.0098	0.01%	0.0266	0.04%	0.0878	0.12%	0.0513	0.07%	0.5896	0.78%
CNY	41.0699	40.9021	-0.1678	-0.41%	-0.1448	-0.35%	0.1098	0.27%	-0.0743	-0.18%	-0.9971	-2.43%

52 Week Performance

Currency	High	Low	Trading Band	% Since High	% Since Low	High Date	Low Date	Days Since High	Days Since Low
USD	277.9732	284.9710	6.9978	0.00%	2.52%	16-Jul-26	22-Jul-25	0	359
EUR	315.8568	335.6068	19.7500	-0.89%	5.31%	24-Jun-26	28-Jan-26	22	169
GBP	366.2051	387.2178	21.0127	-2.58%	3.01%	05-Nov-25	29-Jan-26	253	168
CHF	341.7501	365.8872	24.1371	-0.81%	6.20%	14-Jul-26	28-Jan-26	2	169
JPY	1.7123	1.9409	0.2286	-0.15%	13.19%	14-Jul-26	24-Jul-25	2	357
SAR	74.0176	75.9801	1.9625	0.00%	2.65%	16-Jul-26	16-Jul-25	0	365
AED	75.6863	77.5864	1.9001	0.00%	2.51%	16-Jul-26	22-Jul-25	0	359
CNY	39.2079	41.1868	1.9789	-4.53%	0.28%	01-Aug-25	15-Jun-26	349	31

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