The Pakistani rupee posted another modest gain against the US dollar on Wednesday, extending its recent upward trend in the interbank market as trading remained stable.
According to market data, the rupee closed at PKR 277.75 per US dollar, slightly stronger than the previous session. During the day, it traded within a narrow range, touching an intraday high of PKR 277.80 and a low of PKR 277.75, reflecting limited volatility.
Despite these mixed moves, the broader trend remains positive. Since the start of the current fiscal year, the rupee has appreciated by 40.96 paisa, or 0.15 percent, against the US dollar. On a calendar-year basis, it has gained PKR 2.37, reflecting an appreciation of 0.85 percent.
In the open market, exchange companies quoted the US dollar at PKR 278.30 for buying and PKR 278.80 for selling.
The local currency, however, showed mixed results against other major international currencies. It weakened against the euro, ending the day at PKR 320.32, while the British pound climbed to PKR 373.73 against the rupee.
On the positive side, the rupee edged higher against the Swiss franc to PKR 342.88 and also recorded a slight gain against the Japanese yen, which closed at PKR 1.7595.
Against regional and Gulf currencies, the rupee remained under mild pressure. It slipped to PKR 41.15 against the Chinese yuan, PKR 73.95 against the Saudi riyal, and PKR 75.63 against the UAE dirham.
Read next: Gold price rises for second straight session