Rupee Takes Small Hits 4th Day in a Row Against US Dollar

The Pakistani rupee (PKR) posted small losses 4th day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day but closed in red against the greenback. Meanwhile, it posted losses against almost 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 0.02 percent to close at 277.85 after losing five paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.18 percent. The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the Saudi Riyal (SAR) and one paisa against the UAE Dirham (AED). Meanwhile, it lost four paisas against the Canadian Dollar (CAD), 28 paisas against the Australian Dollar (AUD), and 96 paisas against the Euro (EUR). It gained 31 paisas against the British Pound (GBP). in today’s interbank currency market.