Pakistani Rupee Falls Third Day in a Row Against US Dollar

The Pakistani rupee (PKR) fell 3rd day in a row against the US Dollar today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted big losses 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 278-279 level today. The PKR depreciated by 0.02 percent and closed at 278.73 after losing five paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.14 percent. Overall, the rupee is down nearly Rs. 51.82 since January 2023. Since April 2022, it is down Rs. 95.82 against the greenback. As per the exchange rate movements seen during the session, the PKR lost almost five paisas today. The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the Saudi Riyal (SAR), one paisa against the UAE Dirham (AED), Rs. 1 against the Canadian Dollar (CAD), and Rs. 1.31 against the Australian Dollar (AUD). Meanwhile, it was stable against the Euro (EUR) and gained Rs. 1.13 against the British Pound (GBP) in today’s interbank currency market.