Rupee Closes in Green 2nd Consecutive Day Against US Dollar

The Pakistani rupee (PKR) gained small ground against the US Dollar today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback second day in a row. Meanwhile, it posted gains 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 278 today. The PKR appreciated by 0.02 percent and closed at 278.34 after gaining seven paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.004 percent. Overall, the rupee is down nearly Rs. 51.43 since January 2023. Since April 2022, it is down Rs. 95.43 against the greenback. As per the exchange rate movements seen during the session, the PKR gained seven paisas today. The PKR was green against some of the other major currencies in the interbank market today. It gained two paisas against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), and 85 paisas against the British Pound (GBP). Meanwhile, it lost three paisas against the Euro (EUR), 14 paisas against the Canadian Dollar (CAD), and 59 paisas against the Australian Dollar (AUD) in today’s interbank currency market.