Rupee Appreciates 4th Day in a Row Against US Dollar

The Pakistani rupee rose marginally against the US Dollar after opening trade at 278 in the interbank market. It was stable against the greenback today during most of the session. The interbank rate stayed at 278 most of the day before closing at the 278 level. Open market rates across multiple currency counters were in the 278-279 range today. The PKR appreciated by 0.005 percent to close at 278.125 after gaining just one paisa 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. 51.88 since January 2023. Since April 2022, it is down Rs. 95.88 against the greenback. As per the exchange rate movements seen today, the PKR gained one paisa today. The PKR was green against some of the other major currencies in the interbank market today. It was stable against the UAE Dirham (AED) and the Saudi Riyal (SAR), gained 18 paisas against the Euro (EUR), 36 paisas against the Canadian Dollar (CAD), and six paisas against the British Pound (GBP). Meanwhile, it lost 24 paisas against the Australian Dollar (AUD) in today’s interbank currency market.