Rupee Ends 3-Day Win Streak Against US Dollar, Other Top Currencies

The Pakistani rupee reversed its 3-day winning streak against the US Dollar today after opening trade at 277 in the interbank market. It was largely stable before closing in red against the greenback and most of the other major currencies today. The interbank rate stayed at 278 most of the day before closing at the same level. Open market rates across multiple currency counters were strictly in the 277-278 level today. The PKR depreciated by 0.01 percent to close at 278.23 after losing three paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 2.73 percent. Overall, the rupee is down nearly Rs. 51.17 since January 2023. Since April 2022, it is down Rs. 95.17 against the greenback. As per the exchange rate movements seen today, the PKR lost three paisas today. 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), one paisa against the Saudi Riyal (SAR), 37 paisas against the British Pound (GBP), 58 paisas against the Euro (EUR), and Rs. 1.28 against the Australian Dollar (AUD). Meanwhile, it gained 21 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.