Intraday update: PKR edges up slightly against US dollar

KARACHI: The Pakistani rupee (PKR) recorded a slight gain against the US dollar (USD) during intraday trading in the interbank market on Tuesday, appreciating by 0.08 per cent.

By 10:15am, the PKR was trading at Rs280.83 against the USD, marking an increase of 24 paisa.

On Monday, April 28 — the first trading day of the week — the PKR had closed at Rs281.07.

So far in the current fiscal year, the rupee has depreciated by Rs2.73, or 0.97 per cent, against the USD. Since the beginning of 2025, it has weakened by Rs2.52, or 0.90 per cent.

Global currency markets remained cautious, as the dollar struggled to recover from recent losses. Investors awaited clearer signs of progress in the ongoing US-China trade tensions, after US Treasury Secretary Scott Bessent indicated that any breakthrough depended on Beijing’s willingness to initiate talks.

Previous close

In the previous session on Monday, the rupee had slipped by 9.94 paisa, or 0.04 per cent, settling at Rs281.07 per dollar compared to Friday’s close of Rs280.97. During the day, it traded between an intraday high of Rs281.15 and a low of Rs281.10.

In the open market, exchange companies quoted the USD at Rs280.80 for buying and Rs282.80 for selling.

Recent performance against other foreign currencies

Against other major currencies, the rupee’s performance was mixed:

British Pound: The rupee fell by 87.69 paisa, or 0.23 per cent, closing at Rs374.36 compared to Rs373.48 on Friday, April 25.

Euro: It slipped by 2.86 paisa, or 0.01 per cent, to settle at Rs319.01 from Rs318.99.

Swiss Franc: The local currency declined by 28.24 paisa, or 0.08 per cent, closing at Rs338.29.

Saudi Riyal: The rupee eased by 2.25 paisa, or 0.03 per cent, to end at Rs74.93.

Japanese Yen: It gained marginally by 0.10 paisa, or 0.05 per cent, closing at Rs1.9579 from Rs1.9589.

UAE Dirham: The PKR weakened by 2.71 paisa, or 0.04 per cent, to Rs76.52.

Chinese Yuan: The local unit appreciated by 5.08 paisa, or 0.13 per cent, closing at Rs38.51 from Rs38.56.

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