USD to PKR rate today: rupee posts slight gain against dollar

KARACHI: The Pakistani rupee continued its upward momentum on Thursday, gaining modestly against the US dollar in the interbank market as traders noted calm sentiment in global currency markets.

According to early interbank market data, the local currency appreciated by 0.06 percent, or 18 paisa, to trade at Rs280.78 against the greenback during morning hours. The rupee opened on a firm note and continued to hold its ground in early trading.

Broader trend and previous close

So far in the current fiscal year, the rupee has strengthened by Rs2.81, or about 1 percent, against the dollar, reflecting a gradual recovery backed by improved inflows and cautious demand. However, in the ongoing calendar year, the currency has slipped Rs2.41, marking a marginal depreciation of 0.86 percent.

On Wednesday, the rupee had edged up slightly by 1.34 paisa, settling at Rs280.96 per dollar compared to the previous closing of Rs280.97. During that session, it traded between an intraday high of Rs281.05 and a low of Rs282.05. In the open market, exchange companies quoted the US dollar at Rs281.05 for buying and Rs282.05 for selling.

PKR’s performance against other currencies

The rupee also displayed a mixed performance against other major currencies on Wednesday. It gained 0.58 paisa against the UAE dirham, closing at Rs76.49, and strengthened 0.15 percent against the Japanese yen to Rs1.8445.

The local unit appreciated 0.22 percent against the euro, finishing at 326.71, while PKR surged 0.88 percent against the British pound to close at Rs371.18. Against the Swiss franc, the PKR improved by 0.31 percent to Rs352.52. However, rupee slipped slightly against the Chinese yuan, ending the day at Rs39.58.

Global market influence

In global markets, the Japanese yen weakened after the Bank of Japan decided to keep interest rates unchanged. The yen slipped 0.15 percent to 152.97 against the dollar, hovering near an eight-month low.