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The Pakistani rupee firmed marginally against the US dollar on Monday, closing at 282.02 per dollar in Karachi’s interbank market, a gain of four paisa, or 0.01%, from the previous session. Intraday trading saw bids touch 282.10 and asks rise to 284.90 before the currency settled. In the open market, dealers quoted 282.10 per dollar on the bid and 285.00 on the offer. The rupee’s performance was mixed against other major currencies: it strengthened to 377.25 per British pound but slipped to 354.99 per euro. Money-market conditions remained steady, with the six-month Karachi Interbank Bid Rate holding at 10.72% and the offer rate at 10.97%. Year-to-date, the rupee is down 2.66% against the dollar, though Monday’s uptick offered slight relief to importers and eased the local-currency cost of external debt servicing.
