Rupee Again Falls Against US Dollar, British Pound, Euro

The Pakistani rupee (PKR) reversed gains 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 small 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 278 today. The PKR depreciated by 0.04 percent and closed at 278.51 after losing 11 paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.01 percent. Overall, the rupee is down nearly Rs. 51.16 since January 2023. Since April 2022, it is down Rs. 95.16 against the greenback. As per the exchange rate movements seen during the session, the PKR lost 11 paisas today. The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the British Pound (GBP), two paisas against the UAE Dirham (AED), three paisas against the Saudi Riyal (SAR), 10 paisas against the Canadian Dollar (CAD), and 12 paisas against the Euro (EUR). Meanwhile, it was stable against the Australian Dollar (AUD) in today’s interbank currency market.