Rupee Declines 2nd Day in a Row Against US Dollar, Euro, British Pound

The Pakistani rupee (PKR) closed in red 2nd day in a row against the US Dollar (USD) today after opening trade at 279 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 278-279/$ most of the day before closing at the 278 level. Open market rates across multiple currency counters remained at the 278-281 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 0.02 percent DoD after losing four paisas and closed at 278.66 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.14 percent. The PKR was red against all of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED) and three paisas against the Saudi Riyal (SAR). Meanwhile, it lost Rs. 1.14 against the Canadian Dollar (CAD). It lost Rs. 2.44 against the Euro (EUR) and Rs. 2.73 against the British Pound (GBP). The rupee lost Rs. 1.22 against the Australian Dollar (AUD) in today’s interbank currency market.