Rupee Makes Huge Leap Against British Pound, Other Currencies

The Pakistani rupee (PKR) posted losses 2nd day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was bearish all day and 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 277 level. Open market rates across multiple currency counters remained at the 279-281 level today. The PKR appreciated by 0.03 percent to close at 277.85 after gaining seven paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.18 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained three paisas against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED). Meanwhile, it gained 15 paisas against the Canadian Dollar (CAD), Rs. 2.15 against the British Pound (GBP), and 95 paisas against the Australian Dollar (AUD). It gained 84 paisas against the Euro (EUR) in today’s interbank currency market.