PKR strengthens further vs USD

May 29, 2026 (MLN): The Pakistani rupee extended its gaining streak against the US dollar on Friday, appreciating marginally by 0.95 paisa in the interbank market to settle at PKR 278.50 per USD.

During intraday trading, the local currency touched a high of PKR 278.65 and a low of PKR 278.50 against the greenback.

In the open market, exchange companies quoted the dollar at PKR 278.70 for buying and PKR 279.55 for selling.

Among major foreign currencies, the rupee weakened slightly against the Euro, slipping by 3.08 paisa or 0.01% to settle at PKR 324.09 compared to PKR 324.06 in the previous session.

Against the British Pound, however, the domestic currency recorded a notable recovery, appreciating by PKR 1.63 or 0.43% to close at PKR 373.85 against the prior day’s PKR 375.48.

The rupee also advanced against the Swiss Franc, gaining 80.70 paisa or 0.23% to finish at PKR 355.28.

Similarly, the local unit strengthened against the Japanese Yen by 0.31 paisa or 0.18%, ending the session at PKR 1.7488 compared to PKR 1.7519 a day earlier.

Meanwhile, PKR lost ground against the Chinese Yuan, depreciating by 9.10 paisa or 0.22% to close at PKR 41.15 from PKR 41.05.

Against regional Gulf currencies, the rupee edged higher by 0.95 paisa or 0.01% against the Saudi Riyal to settle at PKR 74.21, while it gained 0.26 paisa against the UAE Dirham to close at PKR 75.83.

On a cumulative basis, the rupee has appreciated by PKR 5.26 or 1.89% against the US dollar during the ongoing fiscal year. In calendar year 2026, the local currency has strengthened by PKR 1.62, showing a gain of 0.58%.

In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates declined by 6 basis points each, settling at 12.25% and 12.50%, respectively.

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