Rupee Ascends to 277 Against US Dollar After 7th Consecutive Increase

The Pakistani rupee (PKR) rose 7th day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against 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 the 277-278 level today. The PKR appreciated by 0.05 percent to close at 277.91 after gaining 13 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.15 percent. The PKR was red against most of the other major currencies in the interbank market today. It gained two paisas against the Saudi Riyal (SAR) and three paisas against the UAE Dirham (AED). Meanwhile, it lost 35 paisas against the Euro (EUR), 38 paisas against the Canadian Dollar (CAD), Rs. 1.13 against the Australian Dollar (AUD), and Rs. 1.22 against the British Pound (GBP) in today’s interbank currency market.