PKR Up 3rd Day in a Row Against US Dollar, Remains At 279

The Pakistani rupee posted marginal gains 3rd 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 today. The interbank rate hovered between 279 and 280 before closing at the same level for the remainder of the day. Open market rates across multiple currency counters were in the 279-280 range today. At close, the PKR appreciated by 0.01 percent to close at 279.48 after gaining two paisas against the dollar today. The rupee closed in the green 3rd day in a row today but maintained a slow climb. On a fiscal year-to-date basis, it has so far appreciated by 2.31 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 the exchange rate movements seen today, the PKR gained two paisas against the dollar today. The PKR was green against all of the other major currencies in the interbank market today. It was stable against the Saudi Riyal (SAR) and the UAE Dirham (AED), gained 74 paisas against the British Pound (GBP) and 94 paisas against the Euro (EUR). It also gained 67 paisas against the Canadian Dollar (CAD) and Rs. 1.44 against the Australian Dollar (AUD) in today’s interbank currency market.