Pakistani Rupee Strengthens Against USD, Gains Across Major Currencies

The Pakistani rupee (PKR) appreciated by 3.51 paisa, or 0.01%, against the US dollar in Friday’s interbank session, closing at PKR 281.37 per USD compared to the previous day’s 281.41.

During intraday trade, the rupee touched a high (bid) of 281.50 and a low (ask) of 281.35. In the open market, exchange companies quoted the dollar at 281.20 for buying and 282.40 for selling.

PKR also gained ground against several major currencies. The rupee rose by Rs1.66 (0.50%) against the Euro, settling at 328.59, and appreciated by Rs2.35 (0.62%) against the British Pound to close at 375.83. Similarly, it strengthened Rs1.37 (0.39%) against the Swiss franc to 351.91 and improved 1.27 paisa (0.67%) versus the Japanese Yen to 1.8785.

Against regional currencies, PKR gained 4.86 paisa (0.12%) against the Chinese Yuan to settle at 39.44, inched up 0.93 paisa (0.01%) against the Saudi Riyal to 75.02, and rose 0.96 paisa (0.01%) against the UAE Dirham to 76.61.

So far in FY25, the rupee has appreciated by Rs2.39 (0.85%) against the US dollar, though it remains weaker by Rs2.82 (1.00%) in calendar year-to-date performance.

Meanwhile, in the money market, the 6-month Karachi Interbank Bid and Offer rates edged up by 2 basis points, settling at 10.84% and 11.09%, respectively.