Rupee Makes Big Leap Against Major Currencies to End Week

The Pakistani rupee (PKR) posted gains to the end the week against the US Dollar (USD) after opening trade at 278 in the interbank market. 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 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 0.08 percent to close at 277.51 after gaining 22 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.33 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained six paisas against the UAE Dirham (AED) and 12 paisas against the Saudi Riyal (SAR). It gained 43 paisas against the Australian Dollar (AUD), 78 paisas against the Canadian Dollar (CAD), and 81 paisas against the Euro (EUR). Meanwhile, it lost 95 paisas against the British Pound (GBP) in today’s interbank currency market.