Rupee Posts Losses for 3rd Successive Day Against US Dollar, Other Currencies

The Pakistani rupee (PKR) lost further ground 3rd 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 losses against all of the other major currencies during today’s session. The interbank rate stayed at 279/$ most of the day before closing at the 278 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR depreciated by 0.02 percent and closed at 278.23 after losing six paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.04 percent. The PKR was red against all of the other major currencies in the interbank market today. It lost two paisas against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED). Meanwhile, it lost 57 paisas against the Canadian Dollar (CAD). It lost 48 paisas against the Euro (EUR) and Rs. 1.91 against the Australian Dollar (AUD). The rupee lost 63 paisas against the British Pound (GBP) in today’s interbank currency market.