The Pakistani rupee (PKR) started fiscal year 2024-25 with small losses against the US Dollar today after opening trade at 278 in the interbank market.
It was stable all day but closed in red against the greenback. It posted losses against some 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 0.01 percent and closed at 278.37 after losing three paisas against the dollar today.
On a fiscal year-to-date basis, the rupee has so far appreciated by 2.73 percent.
Overall, the rupee is down nearly Rs. 51.03 since January 2023. Since April 2022, it is down Rs. 95.03 against the greenback. As per the exchange rate movements seen during the session, the PKR lost three paisas today.
The PKR was green against some of the other major currencies in the interbank market today. It was stable against the UAE Dirham (AED) and the Saudi Riyal (SAR) and gained 35 paisas against the Canadian Dollar (CAD) and 47 paisas against the British Pound (GBP).
Meanwhile, it lost 51 paisas against the Australian Dollar (AUD) and 70 paisas against the Euro (EUR) in today’s interbank currency market.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
Advocates High Court & Tax Counsel
Jurisdiction: Pakistan