Rupee in Red Against US Dollar, Gains Over Rs. 4.5 Against British Pound

The Pakistani rupee (PKR) posted losses against the US Dollar (USD) after opening trade at 278 in the interbank market. It was stable all day but closed in red 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 same level. Open market rates across multiple currency counters were strictly at the 277-278 level today. The PKR depreciated by 0.03 percent to close at 277.74 after losing 10 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 lost two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it gained 50 paisas against the Canadian Dollar (CAD), 55 paisas against the Euro (EUR), Rs. 1.17 against the Australian Dollar (AUD), and Rs. 4.52 against the British Pound (GBP) in today’s interbank currency market.