Rupee Ends 4-Day Losing Streak Against US Dollar to End Bad Week

The Pakistani rupee (PKR) reversed its 4-day losing streak against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was bullish all day and closed in green 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 279-281 level today. The PKR appreciated by 0.07 percent to close at 277.73 after gaining 20 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.21 percent. The PKR was red against some of the other major currencies in the interbank market today. It gained four paisas against the Saudi Riyal (SAR), five paisas against the UAE Dirham (AED), and 38 paisas against the Canadian Dollar (CAD). Meanwhile, it was stable against the Australian Dollar (AUD) and lost 23 paisas against the British Pound (GBP). It lost two paisas against the Euro (EUR) in today’s interbank currency market.