Rupee Down Against US Dollar and Other Major Currencies Once Again
The Pakistani rupee (PKR) experienced slight losses against the US Dollar (USD) at the beginning of the week, opening trade at 278 in the interbank market. The currency showed a bearish trend throughout the day and ultimately closed lower against the greenback.
The interbank rate held steady at around 278/$ for most of the day, eventually closing at the 277 level. Open market rates across various currency counters remained between 278 and 281.
The PKR depreciated by 0.02 percent, closing at 277.68 after a seven paisa loss against the USD today. On a fiscal year-to-date basis, however, the rupee has appreciated by 0.24 percent.
In terms of performance against other major currencies, the PKR struggled in the interbank market today. It lost two paisas against the UAE Dirham (AED) and the Saudi Riyal (SAR), and 86 paisas against the Australian Dollar (AUD). Conversely, the rupee gained 32 paisas against the Canadian Dollar (CAD) and 70 paisas against the British Pound (GBP). It also lost 24 paisas against the Euro (EUR) during today’s trading session.
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