Rupee Recovers Against US Dollar After Bad Start to New Week

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) today after opening trade at 279 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 278-280/$ most of the day before closing at the 278 level. Open market rates across multiple currency counters remained at the 279-282 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR appreciated by 0.03 percent DoD after gaining eight paisas and closed at 278.95 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.23 percent. The PKR was green against some of the other major currencies in the interbank market today. It gained two paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR). Meanwhile, it lost Rs. 3.28 against the Canadian Dollar (CAD). It lost Rs. 2.97 against the Euro (EUR) and Rs. 3.54 against the British Pound (GBP). The rupee lost Rs. 1.73 against the Australian Dollar (AUD) in today’s interbank currency market.