Rupee Posts Tiny Losses 2nd Day in a Row Against US Dollar

The Pakistani rupee (PKR) posted small losses second day in a row against the US Dollar today after opening trade at 278 in the interbank market. It was stable all day but closed in red against the greenback. 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 278 today. The PKR depreciated by 0.01 percent and closed at 278.4 after losing two paisas against the dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.02 percent. Overall, the rupee is down nearly Rs. 51.05 since January 2023. Since April 2022, it is down Rs. 95.05 against the greenback. As per the exchange rate movements seen during the session, the PKR lost two paisas today. The PKR was red against all of the other major currencies in the interbank market today. It lost one paisa against the Saudi Riyal (SAR), 93 paisas against the Australian Dollar (AUD), 99 paisas against the Canadian Dollar (CAD), Rs. 1.19 against the Euro (EUR), and Rs. 1.92 against the British Pound (GBP). Meanwhile, it was stable against the UAE Dirham (AED) in today’s interbank currency market.