Rupee Continues Losing Streak 3rd Day in a Row Against Major Currencies

The Pakistani rupee (PKR) closed in red third day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. 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 interbank rate stayed at 278/$ most of the day before closing at the 277 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR depreciated by 0.03 percent to close at 278.04 after losing eight paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.11 percent. The PKR was red against most of the other major currencies in the interbank market today. It lost three paisas against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED). Meanwhile, it lost 36 paisas against the Canadian Dollar (CAD). It lost 83 paisas against the Euro (EUR) and Rs. 1.54 against the British Pound (GBP). The rupee gained 29 paisas against the Australian Dollar (AUD) in today’s interbank currency market.