Rupee Down 3rd Day in a Row Against US Dollar, Hurts Euro

The Pakistani rupee (PKR) posted losses third day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was a bit bearish all day and 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 277 level. Open market rates across multiple currency counters remained at the 279-281 level today. The PKR depreciated by 0.02 percent to close at 277.89 after losing five paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.16 percent. The PKR was green against most of the other major currencies in the interbank market today. It lost one paisa against the Saudi Riyal (SAR) and one paisa against the UAE Dirham (AED). Meanwhile, it gained 23 paisas against the Canadian Dollar (CAD), Rs. 2.01 against the British Pound (GBP), and 99 paisas against the Australian Dollar (AUD). It gained a whopping Rs. 3.42 against the Euro (EUR) in today’s interbank currency market.