Rupee Down 3rd Day in a Row Against US Dollar, Stays At 277

The Pakistani rupee (PKR) posted losses third day in a row against the US Dollar (USD) after opening trade at 277.6 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against some 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 remained at the 278-281 level today. The PKR depreciated by 0.03 percent to close at 277.84 after losing 10 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 some of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), and 41 paisas against the Canadian Dollar (CAD). Meanwhile, it gained Rs. 2.12 against the British Pound (GBP). It gained 65 paisas against the Australian Dollar (AUD) and 71 paisas against the Euro (EUR) in today’s interbank currency market.