Intraday trade: PKR gains 10 paisa against USD

KARACHI: The Pakistani rupee (PKR) saw marginal fluctuations against the US dollar (USD) on Wednesday, continuing its recent trend.

In early trading, the PKR appreciated slightly, gaining 0.04 per cent, or 10 paisa, to reach Rs277.77 against the dollar on the third day of the trading week.

Since the beginning of the current fiscal year, the PKR has strengthened by 47.25 paisa or 0.17 per cent against the USD. Additionally, the currency has gained Rs3.99, or 1.44 per cent, since the start of 2024.

In the foreign exchange market, the PKR showed modest gains against several major currencies.

It appreciated by 2.68 paisa, or 0.01 per cent, against the Euro, closing at Rs291.97, compared to Rs292.00 previously.

Similarly, it strengthened by 50.81 paisa, or 0.14 per cent, against the British pound, ending at Rs352.20 from Rs352.71.

The rupee also saw gains against the Swiss franc, rising 91.54 paisa, or 0.29 per cent, to close at Rs313.32. Against the Japanese yen, the currency edged up by 0.02 paisa, or 0.01 per cent, settling at Rs1.8504, compared to Rs1.8506 the previous day.

Additionally, the PKR improved by 7.16 paisa, or 0.19 per cent, against the Chinese yuan, closing at Rs38.15, and gained 3.48 paisa, or 0.05 per cent, against the Saudi riyal to settle at Rs73.96. It also rose by 3.27 paisa, or 0.04 per cent, against the UAE dirham, closing at Rs75.65.

Read next: Gold prices unchanged as investors await US jobs data, Fed comments