Rupee Appreciates 6th Day in a Row With Small Gains Against US Dollar

The Pakistani rupee gained some ground against the US Dollar after opening trade at 278 in the interbank market. It was stable against the greenback today during most of the 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 in the 278-279 range today. The PKR appreciated by 0.01 percent to close at 278.04 after gaining four paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.80 percent. Overall, the rupee is down nearly Rs. 51.79 since January 2023. Since April 2022, it is down Rs. 95.79 against the greenback. As per the exchange rate movements seen today, the PKR gained four paisas today. The PKR was green against all of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR). It gained 20 paisas against the Canadian Dollar (CAD), 44 paisas against the Australian Dollar (AUD), 47 paisas against the Euro (EUR), and 75 paisas against the British Pound (GBP) in today’s interbank currency market.