Rupee in Red But Stays At 277 Against US Dollar Ahead of IMF Board Meeting

The Pakistani rupee (PKR) again posted losses against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day but closed in red against the greenback. Meanwhile, it posted losses against all 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 depreciated by 0.02 percent to close at 277.84 after losing four paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.2 percent. The PKR was red against all of the other major currencies in the interbank market today. It was stable against the Saudi Riyal (SAR) but lost one paisa against the UAE Dirham (AED). Meanwhile, it lost Rs. 1.03 against the British Pound (GBP) Rs. 1.39 against the Canadian Dollar (CAD), Rs. 1.55 against the Australian Dollar (AUD), and Rs. 1.63 against the Euro (EUR) in today’s interbank currency market.