Pakistani Rupee Devalues Against All Major Currencies Today

The Pakistani rupee (PKR) was bearish against the US Dollar today after opening trade at 278 in the interbank market. It was largely stable but closed in red against the greenback. It also plunged against 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 strictly at 278 today. The PKR depreciated by 0.03 percent to close at 278.26 after losing eight paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.77 percent. Overall, the rupee is down nearly Rs. 51.06 since January 2023. Since April 2022, it is down Rs. 95.06 against the greenback. As per the exchange rate movements seen during the session, the PKR lost eight paisas today. The PKR was all red against the other major currencies in the interbank market today. It lost two paisas against the Saudi Riyal (SAR), two paisas against the UAE Dirham (AED), and 74 paisas against the Canadian Dollar (CAD). Meanwhile, it lost Rs. 1.16 against the Australian Dollar (AUD), Rs. 1.31 against the Euro (EUR), and Rs. 1.89 against the British Pound (GBP) in today’s interbank currency market.