Pakistan’s rupee continued its steady run against the US dollar on Monday, posting another modest gain in the interbank market and extending its appreciation streak to 210 consecutive trading sessions.
The local currency closed at Rs277.77 against the dollar, improving by 3.04 paisa from the previous close of Rs277.80. While the daily gain was small, it added to a long period of gradual strength that has seen the rupee recover Rs3.65, or 1.31 percent, against the greenback.
During the day’s trading, the rupee touched its strongest level at Rs277.75 before slipping to an intraday low of Rs277.95.
In the open market, exchange companies quoted the greenback at Rs278.60 for buying and Rs278.80 for selling.
The PKR, however, exhibited mixed performance against other foreign currencies.
The local unit weakened against the euro, falling 31.22 paisa to close at Rs320.09. It also slipped 23.70 paisa against the British pound, ending the day at Rs373.69. Against the Japanese yen, the local currency lost 3.60 paisa to settle at Rs1.7695.
Despite those declines, the rupee gained ground against several regional and global currencies. It strengthened by 39.93 paisa against the Swiss franc to Rs343.61, rose 3.84 paisa against the Chinese yuan to Rs41.13, added 1.60 paisa against the Saudi riyal to Rs73.97, and edged up 0.83 paisa against the UAE dirham to Rs75.63.
The latest figures also show the rupee has maintained a positive trend since the start of the fiscal year. It has appreciated by 38.82 paisa, or 0.14 percent, against the US dollar in FY27. On a calendar year basis, the currency has gained Rs2.35, reflecting an overall rise of 0.85 percent.
Meanwhile, activity in the money market remained stable. The benchmark six month Karachi Interbank Bid and Offer rates eased by 4 basis points to 11.49 percent and 11.74 percent, respectively, signalling slightly softer short term funding costs.