Rupee Hopeless Against British Pound, US Dollar After Yet Another Decline

The Pakistani rupee (PKR) closed in red against the US Dollar (USD), British Pound, and most of the other top currencies on Thursday. On a day-on-day (DoD) basis, the interbank rate stayed at 282-283/$ 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 losses against most of the other major currencies during today’s session. The PKR depreciated by 0.03 percent DoD after losing nine paisas and closed at 282.06 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.34 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it lost 58 paisas against the Canadian Dollar (CAD). The rupee lost 26 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained one paisa against the Euro (EUR) but lost 75 paisas against the British Pound (GBP).