More Misery for Rupee As It Remains Below 390 Against British Pound in Open Market

The Pakistani rupee (PKR) rose second day in a row against the US Dollar (USD) but reported losses against the British Pound (GBP) on Wednesday. On a day-on-day (DoD) basis, the interbank rate stayed at 284/$ most of the day before closing at the 283 level. Open market rates across multiple currency counters remained at the 284-287 level today. GBP stayed at 388-392 against the PKR in the open market. PKR was stable all day and closed in green against the greenback. Meanwhile, it posted losses against some of the other major currencies during today’s session. The PKR appreciated by 0.02 percent DoD after gaining four paisas and closed at 283.72 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.81 percent against the US Dollar. The PKR was red against some of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED) but lost one paisa against the Saudi Riyal (SAR). Meanwhile, it gained 15 paisas against the Canadian Dollar (CAD). The rupee gained eight paisas against the Australian Dollar (AUD) in today’s interbank currency market. It lost three paisas against the Euro (EUR) and 94 paisas against the British Pound (GBP).