Rupee Again Loses Ground Against US Dollar, UAE Dirham

The Pakistani rupee (PKR) started the new week with losses against the US Dollar today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted gains most 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 strictly at 278 today. The PKR depreciated by 0.06 percent and closed at 278.3 after losing 17 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.02 percent. Overall, the rupee is down nearly Rs. 51.40 since January 2023. Since April 2022, it is down Rs. 95.40 against the greenback. As per the exchange rate movements seen during the session, the PKR lost 17 paisas today. The PKR was red against some of the other major currencies in the interbank market today. It lost four paisas against the UAE Dirham (AED), four paisas against the Saudi Riyal (SAR), and 18 paisas against the Euro (EUR). Meanwhile, it gained four paisas against the British Pound (GBP), 37 paisas against the Canadian Dollar (CAD) and 77 paisas against the Australian Dollar (AUD) in today’s interbank currency market.