Rupee Starts Week With Losses Against All Major Currencies Ahead of SBP Decision

The Pakistani rupee (PKR) posted losses to start week against the US Dollar (USD) to end the week 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 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 depreciated by 0.03 percent to close at 277.7876 after losing eight paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.20 percent. SBP didn’t announce the monetary policy before currency counters ceased operations today. 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 43 paisas against the Canadian Dollar (CAD), 86 paisas against the Australian Dollar (AUD), and Rs. 2.25 against the British Pound (GBP). It lost 84 paisas against the Euro (EUR) in today’s interbank currency market.