Rupee Ends 8-Day Winning Streak Against US Dollar, Stays At 277

The Pakistani rupee (PKR) reversed its 8-day winning streak against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day but 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 same level. Open market rates across multiple currency counters were strictly at the 277-278 level today. The PKR depreciated by 0.01 percent to close at 277.86 after losing three paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.17 percent. The PKR was green against most of the other major currencies in the interbank market today. Though red, it was stable against the Saudi Riyal (SAR) and the UAE Dirham (AED). Meanwhile, it gained nine paisas against the Canadian Dollar (CAD), nine paisas against the Australian Dollar (AUD), Rs. 1.29 against the British Pound (GBP), and Rs. 1.78 against the Euro (EUR) in today’s interbank currency market.