Rupee Rises 3rd Day in a Row Against US Dollar

The Pakistani rupee rose higher third day in a row against the US Dollar today after opening trade at 288.5 in the interbank market. At 11:30 PM, it was bullish, treading the 287 level against the greenback after losing ~Rs. 2 during early-day trade. Later, the interbank rate rose to 285 between 1:30 PM and 2:30 PM before anchoring trends for the remainder of the day. Open market rates across multiple currency counters stood in the 285-288 range today. At close, the PKR appreciated by 0.19 percent to close at 285.9 after gaining 53 paisas against the dollar today. The rupee closed in the green for the third consecutive day today. Overall, the rupee is down nearly Rs. 69 since January 2023. Since April 2022, it is down over Rs. 116 against the greenback. As per exchange rate movements witnessed today, the PKR has gained nearly 53 paisas against the dollar. The PKR was red against most of the other major currencies in the interbank market today. It gained 14 paisas against the Saudi Riyal (SAR) and 14 paisas against the UAE Dirham (AED). Conversely, it lost 61 paisas against the Canadian Dollar (CAD), Rs. 2.11 against the Euro (EUR), Rs. 2.22 against the British Pound (GBP), and Rs. 2.23 against the Australian Dollar (AUD) in today’s interbank currency market.