Rupee Ends Week With Massive Gains Against British Pound

The Pakistani rupee (PKR) ended the week with gains 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 second day in a row. Meanwhile, it posted gains against all 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 and closed at 278.5 after gaining 16 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.05 percent. Overall, the rupee is down nearly Rs. 51.60 since January 2023. Since April 2022, it is down Rs. 95.60 against the greenback. As per the exchange rate movements seen during the session, the PKR gained 16 paisas today. The PKR was green against all of the other major currencies in the interbank market today. It gained four paisas against the UAE Dirham (AED), six paisas against the Saudi Riyal (SAR), 20 paisas against the Euro (EUR), and Rs. 2.35 against the British Pound (GBP). Meanwhile, it gained 40 paisas against the Australian Dollar (AUD) and 77 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.