Intraday update: PKR stays stable against USD

KARACHI: The Pakistani rupee (PKR) saw little movement against the US dollar (USD) in the interbank market during early trading hours on Monday, trading at Rs280.48—down by just one paisa.

According to data from the State Bank of Pakistan (SBP), the rupee ended last week unchanged against the dollar, closing at Rs280.47—the same level as the previous Friday. The local currency had lost 31 paisa in the first three sessions but recovered by the same margin in the final two, keeping its weekly position steady.

Since the start of the current fiscal year, the rupee has depreciated by Rs2.13 or 0.76 per cent against the greenback. Since January 2025, it has weakened by Rs1.92 or 0.68 per cent.

On the global front, the US dollar edged lower on Monday after a brief rebound. Investors remained cautious amid a series of tariff-related statements from US President Donald Trump that rattled market confidence last week.

In Friday’s interbank session, the rupee gained 8.98 paisa or 0.03 per cent to close at Rs280.47 per dollar, compared to Rs280.56 a day earlier.

In the open market, exchange companies quoted the dollar at Rs280.35 for buying and Rs282.15 for selling.

Rupee’s performance against other major currencies on Friday, April 11:

Japanese Yen: The rupee depreciated by 4.48 paisa or 2.34 per cent, closing at 1.9628.

British Pound: The local currency lost Rs5.42 or 1.50 per cent, falling to Rs366.54.

Euro: The rupee weakened sharply by Rs9.70 or 3.14 per cent, settling at Rs318.96.

Swiss Franc: A drop of Rs14.25 or 4.32 per cent brought the closing rate to Rs344.26.

UAE Dirham: The rupee gained 2.55 paisa or 0.03 per cent, ending at Rs76.36.

Chinese Yuan: The rupee lost 10.70 paisa or 0.28 per cent, closing at Rs38.31.

Saudi Riyal: A modest gain of 2.78 paisa or 0.04 per cent pushed the rupee to Rs74.71.

Currency analysts expect the rupee to remain range-bound in the coming days, influenced by global trends and domestic economic indicators.

Read next: PSX opens week on bullish note, KSE-100 jumps over 1,300 points