PKR stays firm against USD

May 19, 2026 (MLN): The Pakistani rupee kept its winning streak alive on Tuesday its 62nd consecutive session in the green inching up 3.03 paisa, or 0.01%, against the US dollar to close interbank trade at PKR 278.57, compared to PKR 278.60 a day earlier.

During intraday trading, the exchange rate fluctuated between a high of 278.60 and a low of 278.55, reflecting a relatively stable trading environment.

In the open market, exchange companies quoted the dollar at PKR 278.80 on the buying side and PKR 279.65 on the selling side.

The rupee's positive momentum was not limited to the dollar. Against the Euro, PKR gained 11.89 paisa or 0.04%, closing at 323.92 versus the previous session's 324.04.

The local unit also strengthened 21.91 paisa or 0.06% against the Swiss franc to settle at 354.51, and picked up 1.14 paisa or 0.03% against the Chinese Yuan to close at 40.94.

Gains were also registered against the Japanese Yen, with PKR advancing 0.19 paisa or 0.11% to 1.7513. The Saudi Riyal and UAE Dirham also saw the rupee appreciate, rising 0.22 paisa to 74.23 and 1.76 paisa or 0.02% to 75.84, respectively.

However, the rupee slipped against the British Pound, declining 1.05 rupees or 0.28% to 373.08, compared to 372.03 in the previous session  the lone weak spot in an otherwise upbeat trading day.

On a broader horizon, the rupee has now appreciated by PKR 5.19, or 1.86%, against the US dollar since the start of the current fiscal year, and has strengthened by PKR 1.55, or 0.56%, since the beginning of the 2025 calendar year showing a sustained recovery trend.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer (KIBOR) rates nudged upward by 3 basis points, with the bid rate rising to 12.09% and the offer rate climbing to 12.34%.

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