Rupee Depreciates 3rd Day in a Row Against US Dollar Again

The Pakistani rupee (PKR) closed in red to start the final week of December 2024 against the US Dollar (USD) today after opening trade at 279 in the interbank market. 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 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. The PKR depreciated by 0.05 percent and closed at 278.56 after losing 14 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.08 percent. The PKR was red against all of the other major currencies in the interbank market today. It lost five paisas against the Saudi Riyal (SAR) and five paisas against the UAE Dirham (AED). Meanwhile, it lost 10 paisas against the Canadian Dollar (CAD). It gained Rs. 1.12 against the Euro (EUR) and Rs. 1.82 against the British Pound (GBP). The rupee lost 28 paisas against the Australian Dollar (AUD) in today’s interbank currency market.