Rupee Falls 2nd Day in a Row Against US Dollar After Big SBP Decision

The Pakistani rupee (PKR) posted losses second day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the 277 level. Open market rates across multiple currency counters remained at the 279-281 level today. The PKR depreciated by 0.02 percent to close at 277.83 after losing five paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.18 percent. The PKR was red against most of the other major currencies in the interbank market today. It was stable against the Saudi Riyal (SAR) and lost one paisa against the UAE Dirham (AED). Meanwhile, it lost 20 paisas against the British Pound (GBP), 43 paisas against the Canadian Dollar (CAD), and 65 paisas against the Australian Dollar (AUD). It gained 11 paisas against the Euro (EUR) in today’s interbank currency market.