The Pakistani rupee continued its upward momentum on Thursday, appreciating 3.05 paisa against the US dollar in the interbank market to settle at PKR 279.87 per USD, compared to the previous close of 279.90.

During the session, the local currency recorded an intraday high (bid) of 280.60 and a low (ask) of 280.95. In the open market, exchange companies quoted the dollar at PKR 280.30 for buying and PKR 280.95 for selling.

Against major global currencies, the rupee posted mixed performance. It strengthened by 60.95 paisa against the euro to close at 327.24, while gaining 27.88 paisa against the British pound, which settled at 375.84. The rupee also appreciated Rs1.20 versus the Swiss franc and 0.95 paisa against the Japanese yen.

However, the local unit remained largely unchanged against the Chinese yuan, closing flat at 40.19. It also recorded marginal gains against the Saudi riyal and UAE dirham.

On a cumulative basis, the rupee has strengthened by Rs3.89 or 1.39% during the current fiscal year, while calendar year gains stand at 25.03 paisa (0.09%) against the US dollar.

In the money market, yields eased further, with the 6-month Karachi Interbank Bid and Offer rates declining by 7 basis points to 9.99% and 10.24%, respectively.