The Pakistani rupee posted a slight gain against the US dollar on Monday, appreciating by 0.01% in the interbank market.
At the close of trading, the local currency settled at Rs. 281.07, up by Rs. 0.03 against the US dollar.
During the previous week, the rupee had gained Rs. 0.07 or 0.02% against the greenback, closing at Rs. 281.10 compared to Rs. 281.17 a week earlier, according to the State Bank of Pakistan (SBP).
In the open market, exchange companies quoted the dollar at Rs. 281.30 for buying and Rs. 282.15 for selling.
Against major currencies, the rupee showed mixed performance. The PKR strengthened by Rs. 1.29 or 0.39% against the Euro, closing at Rs. 327.81 compared to Rs. 329.10 previously. Against the British Pound, the rupee increased by 27.98 paisa or 0.07% to Rs. 377.08 from Rs. 377.36 a day earlier.
The local unit also gained Rs. 1.65 or 0.46% against the Swiss franc, closing at Rs. 354.40. Against the Japanese Yen, the rupee appreciated by 1.34 paisa or 0.71%, ending the session at Rs. 1.8647 versus Rs. 1.8781 previously.
However, the rupee weakened by 1.18 paisa or 0.03% against the Chinese Yuan, closing at Rs. 39.46 from Rs. 39.45. The currency rose by 0.61 paisa or 0.01% against the Saudi Riyal to Rs. 74.94, and appreciated by 0.93 paisa or 0.01% against the UAE Dirham to close at Rs. 76.52.
So far in the current fiscal year, the rupee has appreciated by Rs. 2.69 or 0.96% against the US dollar, while it has weakened by Rs. 2.52 or 0.90% during the calendar year.
In the money market, the benchmark six-month Karachi Interbank Bid and Offer rates edged down by 2 basis points to 10.93% and 11.18%, respectively.
