Interbank closing: PKR gains 14 paisa against USD

KARACHI: The Pakistani rupee (PKR) posted a slight gain against the US dollar (USD) during early trading hours on Monday, as stabilising global sentiment and signs of easing tensions between major economies supported emerging market currencies.

By 11:00 am in the interbank market, the rupee had appreciated by 0.1 per cent to 281.43 against the greenback, marking an intraday gain of 28 paisa.

The uptick comes after a volatile previous week in which the rupee lost 65 paisa, or 0.23 per cent, closing Friday’s session at 281.71, according to data released by the State Bank of Pakistan.

At close, the Pakistani currency ended the trading session at Rs281.57 against the US dollar, after gaining 14 paisas or 0.05 per cent, according to the State Bank of Pakistan (SBP).

So far in the current fiscal year, the rupee has shed Rs3.36 or 1.19 per cent against the dollar. Since the beginning of 2025, the local unit has weakened by Rs3.16, reflecting a decline of 1.12 per cent.

The modest appreciation on Monday tracked a broader move in global currency markets, where the dollar strengthened in early Asian trade following weekend negotiations between the United States and China. The talks reportedly helped dial down fears of a renewed trade war between the world’s two largest economies, boosting investor sentiment across financial markets.

US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer announced on Sunday in Geneva that Washington and Beijing had reached an agreement aimed at reducing the US trade deficit — a development that lifted the dollar after recent weakness triggered by protectionist policy concerns.

Back home, Friday’s interbank session saw the rupee decline by 18.98 paisa or 0.07 per cent to close at 281.71 per dollar, down from 281.52 a day earlier. The local unit traded within a narrow range, recording a high of 281.80 and a low of 281.55 during the session.

In the open market, exchange companies quoted the dollar at 282 for buying and 283.40 for selling.

Performance against other major currencies was mixed on Friday:

• The rupee fell 4.86 paisa, or 0.06 per cent, against the Saudi riyal to close at 75.10.
• It appreciated 96.01 paisa, or 0.28 per cent, against the Swiss franc, ending at 339.34.
• The rupee gained 96.88 paisa, or 0.30 per cent, against the euro to settle at 317.06.
• Against the UAE dirham, the rupee declined by 5.16 paisa, or 0.07 per cent, closing at 76.70.
• The currency rose 2.75 paisa, or 0.07 per cent, against the Chinese yuan, ending at 38.88.
• The biggest percentage gain was seen against the Japanese yen, where the rupee appreciated by 0.94 paisa, or 0.48 per cent, closing the day at 1.9415.
• The rupee also advanced against the British pound, gaining 45.20 paisa, or 0.12 per cent, to close at 373.67.

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