Rupee Climbs 10th Day in a Row Against Mighty US Dollar, Also Beats Pound, Euro

The Pakistani rupee (PKR) closed in green 10th day in a row against the US Dollar (USD) and also against the British Pound (GBP) on Tuesday. On a day-on-day (DoD) basis, the interbank rate stayed at 282/$ and stayed there most of the day before closing at the same level. Open market rates across multiple currency counters remained at the 283-285 level today. A few sellers quoted Rs. 285/$ in the federal capital today. GBP rose to 376-382 against the PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the buying rate stood at 379, while several exchange shops across main cities were selling GBP at rates as high as Rs. 382. PKR was stable all day and closed in green against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR appreciated by 0.03 percent and gained eight paisas to close at 282.57 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.27 percent against the US Dollar. The PKR was green against most of the other major currencies in the interbank market today. It gained two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it gained nine paisas against the Canadian Dollar (CAD). The rupee gained 47 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained 54 paisas against the Euro (EUR) and 28 paisas against the British Pound (GBP).