Rupee Depreciates Against Most Currencies to Resume Miserable Run

The Pakistani rupee (PKR) closed in red 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 279-281/$ most of the day before closing at the 279 level. Open market rates across multiple currency counters remained at the 279-282 level today. It was stable all day but 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 0.02 percent after losing five paisas to close at 279.26 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.33 percent. The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR). Meanwhile, it gained 26 paisas against the Canadian Dollar (CAD). It lost 45 paisas against the Euro (EUR) and 71 paisas against the British Pound (GBP). The rupee lost 84 paisas against the Australian Dollar (AUD) in today’s interbank currency market.