Pak Rupee Starts New Week With Small Losses Against US Dollar

The Pakistani rupee (PKR) posted losses to begin the new week against the US Dollar (USD) after opening trade at 278 in the interbank market. It was stable all day but closed in red against the greenback. Meanwhile, it posted losses against some of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were volatile but within range at the 279-280 level today. The PKR depreciated by 0.01 percent to close at 277.66 after losing two paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.24 percent. The PKR was red against some of the other major currencies in the interbank market today. It closed in red against the UAE Dirham (AED) and the Saudi Riyal (SAR). Both stayed at Friday’s level despite the slight decline. Meanwhile, it gained 26 paisas against the British Pound (GBP) and 27 paisas against the Canadian Dollar (CAD). It gained 16 paisas against the Australian Dollar (AUD) and 47 paisas against the Euro (EUR) in today’s interbank currency market.