Early trade: Rupee gains 26 paisa against US dollar

KARACHI: The Pakistani rupee (PKR) on the second last trading day of the week appreciated 0.09 per cent against US dollar (USD), gaining 26 paisa in the interbank market during the early trading hours on Thursday.

The PKR was recorded at Rs277.78 in the morning, according to local exchange companies.

The US dollar remained unchanged on Thursday as traders awaited further clarity on President-elect Donald Trump’s proposed policies and speculated on the likelihood of less aggressive interest rate cuts from the Federal Reserve.

After pausing for three sessions, the greenback resumed its upward movement, pushing the dollar index closer to last week’s one-year high of 107.07 against major rivals.

For those unaware, since the start of this calendar year, the rupee has appreciated 1.37 per cent or Rs3.82. During the ongoing financial year 2024-25, PKR has increased versus the greenback 0.11 per cent or 29.89 paisa.

On the previous trading day, the PKR dropped 0.03 per cent or nine paisa against the greenback and closed Wednesday at Rs278.04 against USD, according to the State Bank of Pakistan (SBP).

Considering other major foreign currencies, the local currency dropped by over 73 paisa (0.21 per cent) against the British Pound and closed the day at Rs352.92.

PKR’s value versus the Japanese Yen increase 0.74 per cent or 1.34 paisa on Wednesday and ended the day at Rs1.785.

The local currency also gained 0.05 per cent or 14.71 paisa against the Swiss Franc and ended at Rs314.33.

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