Rupee Ends Week With Encouraging Gains Against US Dollar, Euro

The Pakistani rupee (PKR) was stable against the US Dollar today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. 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 same level. Open market rates across multiple currency counters were strictly at the 278 level today. The PKR appreciated by 0.06 percent to close at 278.54 after gaining 15 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.02 percent. Overall, the rupee is down nearly Rs. 51.64 since January 2023. Since April 2022, it is down Rs. 95.64 against the greenback. As per the exchange rate movements seen during the session, the PKR gained almost 16 paisas today. The PKR was green against most of the other major currencies in the interbank market today. It lost 14 paisas against the Australian Dollar (AUD) and 71 paisas against the British Pound (GBP). Meanwhile, it gained four paisas against the UAE Dirham (AED), four paisas against the Saudi Riyal (SAR), 41 paisas against the Canadian Dollar (CAD), and 87 paisas against the Euro (EUR) in today’s interbank currency market.