Rupee Closes in Red Against All Popular Currencies As Momentum Drops

The Pakistani rupee (PKR) closed in red ending its 2-day win streak 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 bearish all day and closed in red against the greenback. Meanwhile, it posted losses against all of the other major currencies during today’s session. The PKR depreciated by 0.05 percent DoD after losing 13 paisas and closed at 280.6 against the US Dollar today. On a fiscal year to date basis (FYTD), the PKR has lost 0.81 percent against the US Dollar. The PKR was red against all of the other major currencies in the interbank market today. It lost three paisas against the UAE Dirham (AED) and five paisas against the Saudi Riyal (SAR). Meanwhile, it lost Rs. 1 against the Canadian Dollar (CAD). The rupee lost Rs. 3.32 against the Australian Dollar (AUD) in today’s interbank currency market. It lost 79 paisas against the Euro (EUR) and Rs. 3.12 against the British Pound (GBP).