Rupee Down 2nd Day in a Row Against US Dollar

The Pakistani rupee (PKR) posted small losses against the US Dollar (USD) after opening trade at 278 in the interbank market. It was stable all day but closed in red against the greenback. 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 the 277-278 level today. The PKR depreciated by 0.01 percent to close at 277.67 after losing two paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.24 percent. The PKR was green against most of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), and 72 paisas against the Euro (EUR). Meanwhile, it gained 83 paisas against the Canadian Dollar (CAD) and Rs. 1.7 against the Australian Dollar (AUD). It also gained 40 paisas against the British Pound (GBP) in today’s interbank currency market.