Rupee Jumps Back to 277 Level Against US Dollar

The Pakistani rupee (PKR) posted gains ending its 3-day losing streak 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 0.03 percent to close at 277.95 after gaining eight paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.14 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained one paisa against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED). Meanwhile, it lost five paisas against the Canadian Dollar (CAD). It gained 13 paisas against the Australian Dollar (AUD), Rs. 1.06 against the Euro (EUR), and Rs. 1.5 against the British Pound (GBP) in today’s interbank currency market.