Rupee Rebounds Against British Pound But Edges Closer to 283 Against US Dollar

The Pakistani rupee (PKR) closed in red against the US Dollar (USD) on Tuesday. On a day-on-day (DoD) basis, the interbank rate stayed at 282-283/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 283-284 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 11 paisas and closed at 282.17 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.37 percent against the US Dollar. The PKR was green against all of the other major currencies in the interbank market today. It lost three paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it gained 78 paisas against the Canadian Dollar (CAD). The rupee gained Rs. 1.63 against the Australian Dollar (AUD) in today’s interbank currency market. It gained Rs. 1.18 against the Euro (EUR) and 87 paisas against the British Pound (GBP).