Rupee Takes Big Beating Against All Top Currencies After End of Protests

The Pakistani rupee (PKR) closed in red second 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 278/$ most of the day before closing at the 277 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR depreciated by 0.04 percent to close at 277.96 after losing 12 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.14 percent. The PKR was red against all of the other major currencies in the interbank market today. It closed in red against the Saudi Riyal (SAR) and lost three paisas against the UAE Dirham (AED). Meanwhile, it lost Rs. 1.12 against the Canadian Dollar (CAD). It lost 41 paisas against the Australian Dollar (AUD) and Rs. 1.57 against the British Pound (GBP). The rupee lost 86 paisas against the Euro (EUR), in today’s interbank currency market.