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Rupee Ends 4-Day Losing Streak Against US Dollar to End Tough Week

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Legal Editorial Desk
Rupee Ends 4-Day Losing Streak Against US Dollar to End Tough Week
The Pakistani rupee (PKR) closed in green against the US Dollar (USD) reversing its 4-day losing streak 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 stable all day and closed in green against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR appreciated by 0.03 percent DoD after gaining eight paisas and closed at 278.56 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.1 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it lost 11 paisas against the Canadian Dollar (CAD). It gained Rs. 2.31 against the Euro (EUR) and Rs. 3.33 against the British Pound (GBP). The rupee lost 21 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.

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