Rupee Recovers from 6-Day Losing Streak Against US Dollar After Ceasefire, IMF News

The Pakistani rupee (PKR) closed in green, reversing its 6-day losing streak against the US Dollar (USD) on Monday. On a day-on-day (DoD) basis, the interbank rate stayed at 281-282/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 283 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR appreciated by 0.05 percent DoD after gaining 13 paisas and closed at 281.56 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.16 percent against the US Dollar. The PKR was green against most of the other major currencies in the interbank market today. It gained three paisas against the UAE Dirham (AED) and three paisas against the Saudi Riyal (SAR). Meanwhile, it gained 94 paisas against the Canadian Dollar (CAD). The rupee was stable against the Australian Dollar (AUD) in today’s interbank currency market. It gained Rs. 4.19 against the Euro (EUR) and Rs. 2.59 against the British Pound (GBP).