Rupee Ends Week in Red After 4th Consecutive Decline Against Top Currencies

The Pakistani rupee (PKR) closed in red 4th day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback despite managing to stay at yesterday’s level. Meanwhile, it posted losses 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 278-281 level today. The PKR closed at 278.05 after losing just half a paisa against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.11 percent. The PKR was red against most of the other major currencies in the interbank market today. It gained one paisa against the Saudi Riyal (SAR) but was stable against the UAE Dirham (AED). Meanwhile, it lost 44 paisas against the Canadian Dollar (CAD). It lost Rs. 1.17 against the Euro (EUR) and Rs. 1.75 against the British Pound (GBP). The rupee lost 96 paisas against the Australian Dollar (AUD) in today’s interbank currency market.