Pak Rupee Loses Further Ground Against US Dollar 3rd Day in a Row

The Pakistani rupee fell third day in a row against the US Dollar after opening trade at 278 in the interbank market. It was bearish against the greenback and other major currencies today. The interbank rate stayed at 279 most of the day before closing at the 278 level. Open market rates across multiple currency counters were in the 278-280 level today. The PKR depreciated by 0.04 percent to close at 278.4 after losing 11 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.67 percent. Overall, the rupee is down nearly Rs. 51.58 since January 2023. Since April 2022, it is down Rs. 95.58 against the greenback. As per the exchange rate movements seen today, the PKR lost 11 paisas today. The PKR was red against most of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), 32 paisas against the Euro (EUR), 11 paisas against the Australian Dollar (AUD), and 76 paisas against the British Pound (GBP). Meanwhile, it gained 14 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.