Rupee Goes Up 8th Day in a Row Against US Dollar As Momentum Stays

The Pakistani rupee (PKR) gained more ground 8th day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against some of the other major currencies during today’s session. 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 at the 277-278 level today. The PKR appreciated by 0.03 percent to close at 277.83 after gaining seven 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 some of the other major currencies in the interbank market today. It gained one paisa against the Saudi Riyal (SAR), two paisas against the UAE Dirham (AED), 28 paisas against the Canadian Dollar (CAD), and 33 paisas against the Australian Dollar (AUD). Meanwhile, it lost 36 paisas against the Euro (EUR) and Rs. 1.62 against the British Pound (GBP) in today’s interbank currency market.