Rupee Down 3rd Consecutive Day Against US Dollar After SBP Rate Cut

The Pakistani rupee (PKR) closed in red third day in a row against the US Dollar (USD) today after opening trade at 282 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 281-283/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 282-284 level today. 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 PKR depreciated by 0.05 percent DoD after losing 15 paisas and closed at 281.37 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.08 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It lost four paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it lost 10 paisas against the Canadian Dollar (CAD). The rupee gained 21 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It lost 80 paisas against the Euro (EUR) and Rs. 1.21 against the British Pound (GBP).