Rupee Nears 281 Against US Dollar After Small Decline

The Pakistani rupee (PKR) closed in red to start the week against the US Dollar (USD) today after opening trade at 281 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 280-281/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 281-282 level today. It was bearish all day and closed in red against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR depreciated by 0.04 percent DoD after losing 10 paisas and closed at 280.56 against the US Dollar today. The PKR was green against most of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED) but gained one paisa against the Saudi Riyal (SAR). Meanwhile, it gained 83 paisas against the Canadian Dollar (CAD). It lost 87 paisas against the Euro (EUR) but gained Rs. 2.43 against the British Pound (GBP). The rupee gained Rs. 5.3 against the Australian Dollar (AUD) in today’s interbank currency market.