Pakistani Rupee Registers Modest Gains Against US Dollar

The Pakistani rupee posted a marginal gain against the US dollar on Thursday, appreciating by 0.01% in the inter-bank market. At the close of trading, the rupee settled at Rs. 280.92, up by Rs. 0.04 from the previous day’s close of Rs. 280.96. In the open market, exchange companies quoted the dollar at Rs. 281.05 for buying and Rs. 282.05 for selling. The rupee also strengthened against several major currencies. Against the Euro, the PKR rose by 51.92 paisa or 0.16%, closing at Rs. 326.19 compared to Rs. 326.71 a day earlier. The local unit gained 55.31 paisa or 0.15% against the British Pound, settling at Rs. 370.62 versus Rs. 371.18 previously. The rupee appreciated by Rs. 1.10 or 0.31% against the Swiss franc, closing at Rs. 351.42. Against the Japanese Yen, the PKR strengthened by 1.82 paisa or 0.99% to close at Rs. 1.8263, up from Rs. 1.8445. The local currency also gained 5.85 paisa or 0.15% against the Chinese Yuan, ending at Rs. 39.52 from Rs. 39.58. It appreciated by 1.35 paisa or 0.02% against the Saudi Riyal to Rs. 74.91, and by 0.97 paisa or 0.01% against the UAE Dirham to Rs. 76.48. So far in the current fiscal year, the rupee has gained Rs. 2.84 or 1.01% against the US dollar. However, it has declined by Rs. 2.37 or 0.84% since the start of the calendar year.