Rupee in Red 2nd Consecutive Day Against US Dollar, Other Currencies

The Pakistani rupee fell slightly against the US Dollar after opening trade at 278 in the interbank market. It was largely stable against the greenback but devalued against other major currencies today. The interbank rate stayed at 278.8 most of the day before closing at the same level. Open market rates across multiple currency counters were strictly in the 278 level today. The PKR depreciated by 0.01 percent to close at 278.37 after losing four paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.69 percent. Overall, the rupee is down nearly Rs. 51.47 since January 2023. Since April 2022, it is down Rs. 95.47 against the greenback. As per the exchange rate movements seen today, the PKR lost four paisas today. The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED), one paisa against the Saudi Riyal (SAR), 53 paisas against the Euro (EUR), 55 paisas against the Canadian Dollar (CAD), and 56 paisas against the Australian Dollar (AUD). It gained 28 paisas against the British Pound (GBP) in today’s interbank currency market.