Intraday update: PKR rises by seven paisa against USD

KARACHI: The Pakistani rupee (PKR) registered a modest gain against the US dollar (USD) in early interbank trading on Wednesday, continuing its recent recovery. According to currency dealers, the rupee rose by seven paisa, with the dollar being quoted at Rs280.50.

Despite the rupee’s upward movement, the Pakistan Stock Exchange (PSX) saw a dip in early trading. The benchmark KSE-100 index, which opened in the green and climbed nearly 600 points above Tuesday’s close of 116,775.50, reversed course and was down by 20.76 points, or 0.02 per cent, at 116,754.74 by 10:52 AM.

PKR’s performance in the fiscal and calendar year

Since the beginning of the current fiscal year, the rupee has depreciated by Rs2.23, or 0.79 per cent, against the dollar. Meanwhile, the currency has lost Rs2.02, or 0.72 per cent, since the start of calendar year 2025.

Previous session snapshot (Tuesday, April 15)

On Tuesday, the rupee inched up by 3.43 paisa, or 0.01 per cent, closing at Rs280.57 in the interbank market. During the session, it traded between a high (bid) of Rs280.65 and a low (ask) of Rs280.55.

Exchange companies quoted the dollar at Rs280.50 for buying and Rs282.15 for selling.

Rupee’s movement against other currencies

Japanese Yen: Gained 0.34 paisa (0.17 per cent) to close at Rs1.9599.

Saudi Riyal: Lost 0.67 paisa (0.01 per cent), settling at Rs74.77.

Euro: Strengthened by 81.07 paisa (0.25 per cent), ending at Rs318.95.

British Pound: Dropped by Rs1.57 (0.42 per cent) to close at Rs371.23.

UAE Dirham: Gained 0.94 paisa (0.01 per cent), closing at Rs76.39.

Swiss Franc: Declined by 96.88 paisa (0.28 per cent), settling at Rs344.25.

Chinese Yuan: Appreciated by 4.09 paisa (0.11 per cent), finishing at Rs38.38.

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