Rupee Slips for the 2nd Consecutive Day Against US Dollar
The Pakistani rupee (PKR) experienced slight losses against the US Dollar (USD) as the week began, opening trade at 278 in the interbank market.
While the rupee maintained stability throughout the day, it ultimately closed in the red against the greenback. However, it did manage to post gains against most other major currencies during the session. The interbank rate remained steady at 278/$ for most of the day before finishing at the 277 level. In the open market, rates across various currency counters fluctuated between 278-281.
The PKR depreciated by 0.02 percent, closing at 277.73 after losing five paisas against the US Dollar. On a fiscal year-to-date basis, the rupee has appreciated by 0.22 percent overall.
In today’s interbank market, the PKR showed mixed performance against other major currencies. It lost one paisa against both the UAE Dirham (AED) and the Saudi Riyal (SAR). Conversely, the rupee gained nine paisas against the Canadian Dollar (CAD), 42 paisas against the British Pound (GBP), and 12 paisas against the Australian Dollar (AUD). It also appreciated by 37 paisas against the Euro (EUR).
