Mid-Week Blues: Pakistani Rupee Depreciates 3rd Day in a Row Against US Dollar

The Pakistani rupee (PKR) lost further ground against the US Dollar third day in a row 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 gains against most of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at the 278 level today. The PKR depreciated by 0.02 percent to close at 278.76 after losing six paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.15 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained five paisas against the British Pound (GBP), 10 paisas against the Euro (EUR), 56 paisas against the Canadian Dollar (CAD), and Rs. 1.12 against the Australian Dollar (AUD). Meanwhile, it lost one paisa against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED) in today’s interbank currency market.