Rupee Barely Recovers Against US Dollar But Drops Below 370 Against British Pound

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) today after opening trade at 280 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 280-281/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 281-282 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against some of the other major currencies during today’s session. The PKR appreciated by 0.01 percent DoD after gaining three paisas and closed at 280.56 against the US Dollar today. On a fiscal year to date basis (FYTD), the PKR has lost 0.80 percent against the US Dollar. The PKR was green against some of the other major currencies in the interbank market today. It was stable against both the UAE Dirham (AED) and the Saudi Riyal (SAR). Meanwhile, it gained 37 paisas against the Canadian Dollar (CAD). The rupee lost 93 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained 81 paisas against the Euro (EUR) but lost Rs. 1.56 against the British Pound (GBP).