Rupee Halts Losing Streak Against US Dollar But Stays Near 280

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) halting its 3-day losing streak today after opening trade at 280 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 279-281/$ most of the day before closing at the 279 level. Open market rates across multiple currency counters remained at the 280-282 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 closed in green at 279.46 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.41 percent. The PKR was green against most of the other major currencies in the interbank market today. It was stable against the UAE Dirham (AED) and also remained on yesterday’s level against the Saudi Riyal (SAR). Meanwhile, it gained 57 paisas against the Canadian Dollar (CAD). It gained 55 paisas against the Euro (EUR) and 67 paisas against the British Pound (GBP). The rupee lost three paisas against the Australian Dollar (AUD) in today’s interbank currency market.