Rupee Abruptly Ends Last Week’s Momentum Against US Dollar
The Pakistani rupee (PKR) posted losses at the start of the new week against the US Dollar (USD) after opening trade at 278 in the interbank market. Despite maintaining stability throughout the day, the rupee eventually closed slightly lower against the greenback. However, it posted gains against most other major currencies during today’s session.
Interbank Market Performance
The interbank rate remained steady at 278/$ for most of the day before closing at the same level. Open market rates across multiple currency counters also stayed within the 277-278 range. By the end of the day, the PKR depreciated by 0.04 percent, closing at 277.64 after losing 12 paisas against the US Dollar.
Fiscal Year-to-Date Performance
On a fiscal year-to-date basis, the rupee has appreciated by 0.25 percent, indicating some overall strength despite today’s minor setback.
Performance Against Other Currencies
The PKR showed mixed results against other major currencies in the interbank market today:
- UAE Dirham (AED): Lost three paisas
- Saudi Riyal (SAR): Lost four paisas
- Canadian Dollar (CAD): Gained 34 paisas
- Australian Dollar (AUD): Gained Rs. 1.22
- Euro (EUR): Gained Rs. 1.47
- British Pound (GBP): Gained Rs. 1.5
These movements reflect the PKR’s resilience and volatility in the face of various economic pressures.
