Pak Rupee Appreciates 5th Day in a Row Against US Dollar

The Pakistani rupee posted gains 5th day in a row against the US Dollar today after opening trade at 279 in the interbank market. It was largely stable against the greenback during intraday trade and hardly parried any movement throughout the session after briefly touching 280 at 11:55 AM. The interbank rate later dropped back to 279 before closing at the same level for the remainder of the day. Open market rates across multiple currency counters were stable in the 279-280 range today. At close, the PKR appreciated by 0.02 percent to close at 279.79 after gaining five paisas against the dollar today. The rupee closed in the green 5th day in a row today. On a fiscal year-to-date basis, it has so far appreciated by 2.21 percent. Overall, the rupee is down nearly Rs. 60 since January 2023. Since April 2022, it is down over Rs. 107 against the greenback. As per exchange rate movements seen today, the PKR has gained five paisas against the dollar. The PKR was red against some of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED), one paisa against the Saudi Riyal (SAR), and 58 paisas against the Canadian Dollar (CAD). Meanwhile, it lost 18 paisas against the Euro (EUR), 21 paisas against the Australian Dollar (AUD), and Rs. 1.01 against the British Pound (GBP) in today’s interbank currency market.