Rupee Ends Week With Encouraging Gains Against US Dollar

The Pakistani rupee (PKR) posted encouraging gains 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 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 appreciated by 0.07 percent to close at 277.64 after gaining 20 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.25 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained five paisas against the Saudi Riyal (SAR) and six paisas against the UAE Dirham (AED). Meanwhile, it gained 20 paisas against the British Pound (GBP), 58 paisas against the Canadian Dollar (CAD), and 96 paisas against the Australian Dollar (AUD). It lost 50 paisas against the Euro (EUR) in today’s interbank currency market.