Rupee Closes Below 279 Against US Dollar 2nd Day in a Row After Small Increase

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 278-281/$ most of the day before closing at the 279 level. Open market rates across multiple currency counters remained at the 279-282 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 0.03 percent DoD after gaining 10 paisas and closed at 279.04 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.27 percent. The PKR was red against some of the other major currencies in the interbank market today. It gained two paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR). Meanwhile, it lost 53 paisas against the Canadian Dollar (CAD). It lost nine paisas against the Euro (EUR) but gained Rs. 1.02 against the British Pound (GBP). The rupee lost 60 paisas against the Australian Dollar (AUD) in today’s interbank currency market.