Intraday trade: PKR rises by three paisa against USD

KARACHI: The Pakistani rupee (PKR) remained largely stable against the US dollar (USD) on the second trading day of the week, appreciating by 0.01 per cent during the opening hours of interbank trading on Tuesday.

In the morning, the PKR was recorded at Rs277.83, gaining three paisa against the American currency.

On the previous trading day, the rupee had depreciated by 0.07 per cent or 18.57 paisa against the dollar, closing at Rs277.86 per USD, compared to last week’s closing rate of Rs277.67.

Globally, the yen received some much-needed relief on Tuesday, steadying on the stronger side of 155 per US dollar, benefiting from a pullback in the US currency, which faced profit-taking after a strong rally that saw it reach a one-year high.

So far this calendar year, the Pakistani currency has increased by 1.44 per cent or Rs4.01. During the ongoing fiscal year, it has risen against the USD by 0.17 per cent or 48.58 paisa.

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