Rupee Falls 3rd Consecutive Day Against US Dollar After ‘Terror Threat’ to PSX

The Pakistani rupee (PKR) closed in red 3rd day in a row 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 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 bearish all day and closed in red against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR depreciated by 0.02 percent DoD after losing five paisas and closed at 278.72 against the US Dollar today. One trader informed ProPakistani today’s losses come as money movers are a bit stressed over Sunday’s news of militants belonging to Tehreek-i-Taliban Pakistan (TTP) targeting local businesses, including listed firms, owned by the Armed Forces of Pakistan. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.16 percent. The PKR was green against most of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it gained 68 paisas against the Canadian Dollar (CAD). It gained Rs. 2.28 against the Euro (EUR) and Rs. 2.3 against the British Pound (GBP). The rupee lost Rs. 1.27 against the Australian Dollar (AUD) in today’s interbank currency market.