Intraday trade: PKR up by 9 paisa against USD

KARACHI: The Pakistani rupee (PKR) witnessed a slight gain against the US dollar (USD), rising 0.03 per cent in the interbank market during the initial trading hours on Wednesday.

In the morning, the Pakistani currency was hovering at Rs278.58, marking an increase of 9 paisa against the greenback.

For those unaware, during the current fiscal year, the PKR has depreciated against the USD by 32.61 paisa or 0.12 per cent. Since the start of 2025, the PKR has weakened by 11.73 paisa or 0.04 per cent.

On Tuesday, the PKR weakened by 0.02 per cent or 4.62 paisa against the US dollar in the interbank session, closing at Rs278.67 per USD, compared to the previous closing of Rs278.62 on Monday.

Here is how the local currency performed against other foreign currencies on the previous trading day:

Yen to PKR: Against the Japanese Yen, the PKR weakened by 0.22 paisa or 0.12 per cent, closing at Rs1.7690 compared to Rs1.7668 a day ago.

Dirham to PKR: The PKR decreased by 1.25 paisa or 0.02 per cent against the UAE Dirham, closing at Rs75.87.

Franc to PKR: The PKR weakened by Rs1.19 or 0.39 per cent against the Swiss Franc, closing at Rs308.12.

Riyal to PKR: The PKR fell by 3.20 paisa or 0.04 per cent against the Saudi Riyal to Rs74.23.

Euro to PKR: The PKR fell by Rs2.44 or 0.85 per cent against the Euro, closing at Rs290.30 compared to the previous value of Rs287.86.

Pound to PKR: Against the British Pound, the PKR decreased by Rs2.73 or 0.79 per cent, closing at Rs349.81 compared to Rs347.08 a day earlier.

Yuan to PKR: The PKR decreased by 1.80 paisa or 0.05 per cent against the Chinese Yuan, closing at Rs38.03 from Rs38.01.

Globally, the US dollar remained strong on Wednesday, while the Yen lingered close to levels that triggered intervention last year after strong US economic data pushed up yields and reduced some expectations of Federal Reserve rate cuts.

Traders are keeping a close eye on US labour data, set to be released on Friday, as well as on Inauguration Day, 20th January, when Donald Trump is expected to begin his second term as US president with a flurry of policy announcements and executive orders.

Overnight data revealed that US job openings unexpectedly rose in November, layoffs remained low, while services sector activity accelerated in December. Additionally, a measure of input prices hit a two-year high, signalling a possible inflation warning.

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