Rupee Down Against US Dollar, Other Major Currencies Once Again

The Pakistani rupee (PKR) posted small losses against the US Dollar (USD) to start the week after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted gains 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 277 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR depreciated by 0.02 percent to close at 277.68 after losing seven 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 red against most 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 86 paisas against the Australian Dollar (AUD). Meanwhile, it gained 32 paisas against the Canadian Dollar (CAD) and 70 paisas against the British Pound (GBP). It lost 24 paisas against the Euro (EUR) in today’s interbank currency market.