Rupee Falls Near 282 Against US Dollar After 6th Consecutive Drop

The Pakistani rupee (PKR) closed in red for the 6th day in a row against the US Dollar (USD) on Friday. On a day-on-day (DoD) basis, the interbank rate stayed at 281-282/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 283 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 0.07 percent DoD after losing 19 paisas and closed at 281.70 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.21 percent against the US Dollar. The PKR was green against most of the other major currencies in the interbank market today. It lost five paisas against both the UAE Dirham (AED) and four paisas against the Saudi Riyal (SAR). Meanwhile, it gained 59 paisas against the Canadian Dollar (CAD). The rupee gained 27 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained 96 paisas against the Euro (EUR) and 45 paisas against the British Pound (GBP).