Rupee Once Again Devalues Against US Dollar After Yesterday’s Increase

The Pakistani rupee (PKR) again fell 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 gains against some of the other major currencies during today’s session. The interbank rate stayed at 279/$ most of the day before closing at the 278 level. Open market rates across multiple currency counters remained at the 277-279 level today. The PKR depreciated by 0.03 percent and closed at 278.05 after losing seven paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.10 percent. The PKR was green against some of the other major currencies in the interbank market today. It lost one paisa against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED). Meanwhile, it gained 35 paisas against the Canadian Dollar (CAD). It gained 46 paisas against the Euro (EUR) and 51 paisas against the British Pound (GBP). The rupee gained 89 paisas against the Australian Dollar (AUD) in today’s interbank currency market.