Rupee Continues Depressing Fall Against British Pound, US Dollar Ahead of Budget

The Pakistani rupee (PKR) closed in red second day in a row against the US Dollar (USD) on Wednesday as well as against British Pound (GBP). On a day-on-day (DoD) basis, the interbank rate stayed at 282-283/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 282-284 level today. It was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR depreciated by 0.04 percent DoD after losing 10 paisas and closed at 282.22 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.38 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED) and three paisas against the Saudi Riyal (SAR). Meanwhile, it lost 23 paisas against the Canadian Dollar (CAD). The rupee lost 10 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained 84 paisas against the Euro (EUR) but lost 29 paisas against the British Pound (GBP).