Rupee Rises 6th Day in a Row Against US Dollar As It Nears 277

The Pakistani rupee (PKR) rose 6th day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against some 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 278 level today. The PKR appreciated by 0.03 percent to close at 278.04 after gaining eight paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.04 percent. The PKR was red against some of the other major currencies in the interbank market today. It gained two paisas against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), and 22 paisas against the Canadian Dollar (CAD). Meanwhile, it lost 18 paisas against the Euro (EUR), 38 paisas against the British Pound (GBP), and Rs. 1.13 against the Australian Dollar (AUD) in today’s interbank currency market.