Pak Rupee Jumps 10th Day in a Row Against US Dollar, Other Currencies

The Pakistani rupee rose higher 10th day in a row against the US Dollar after opening trade at 278 in the interbank market. It was bullish against the greenback today. The interbank rate stayed at 278 most of the day before closing at the 277 level. Open market rates across multiple currency counters were in the 277-278 level today. The PKR appreciated by 0.04 percent to close at 277.83 after gaining 10 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.87 percent. Overall, the rupee is down nearly Rs. 51.59 since January 2023. Since April 2022, it is down Rs. 95.59 against the greenback. As per the exchange rate movements seen today, the PKR gained 10 paisas today. The PKR was green against all of the other major currencies in the interbank market today. It gained three paisas against the UAE Dirham (AED), three paisas against the Saudi Riyal (SAR), and Rs. 1.97 against the British Pound (GBP). Meanwhile, it gained 65 paisas against the Canadian Dollar (CAD), 80 paisas against the Australian Dollar (AUD), and Rs. 1.33 against the Euro (EUR) in today’s interbank currency market.