British Pound Climbs Back Above Rs. 382 in Open Market

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) but posted big losses against the British Pound (GBP) on Thursday. On a day-on-day (DoD) basis, the interbank rate stayed at 282/$ and stayed there most of the day before closing at the same level. Open market rates across multiple currency counters remained at the 283-285 level today. A few sellers quoted Rs. 285/$ in the federal capital today. GBP rose to 379-384 against the PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the buying rate stood at 382, while several exchange shops across main cities were selling GBP at rates as high as Rs. 383. PKR was stable all day and closed in green against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR appreciated by 0.04 percent and gained 11 paisas to close at 282.55 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.26 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It gained three paisas against the UAE Dirham (AED) and four paisas against the Saudi Riyal (SAR). Meanwhile, it lost 63 paisas against the Canadian Dollar (CAD). The rupee lost Rs. 1.26 against the Australian Dollar (AUD) in today’s interbank currency market. It lost Rs. 3.14 against the Euro (EUR) and Rs. 2.43 against the British Pound (GBP).