Rupee Closes in Red After Depreciating Against US Dollar, Other Currencies

The Pakistani rupee (PKR) posted losses against the US Dollar (USD) 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 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 277 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR depreciated by 0.04 percent to close at 277.84 after losing 11 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.18 percent. The PKR was red against most of the other major currencies in the interbank market today. It lost two paisas against the Saudi Riyal (SAR) and three paisas against the UAE Dirham (AED). Meanwhile, it lost 18 paisas against the Canadian Dollar (CAD), 32 paisas against the British Pound (GBP), and 62 paisas against the Euro (EUR) It gained six paisas against the Australian Dollar (AUD) in today’s interbank currency market.