Rupee Reverses 4-Day Losing Streak Against US Dollar to End Tough Week

The Pakistani rupee (PKR) posted gains to end its 4-day losing streak against the US Dollar (USD) today after opening trade at 278 in the interbank market. It was stable all day and closed in green against the greenback. Meanwhile, it posted gains against almost all of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the 277 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR appreciated by 0.05 percent to close at 277.7 after gaining 15 paisas against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far appreciated by 0.23 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained three paisas against the Saudi Riyal (SAR) and four paisas against the UAE Dirham (AED). Meanwhile, it gained 45 paisas against the Canadian Dollar (CAD), 50 paisas against the Australian Dollar (AUD), and Rs. 2.97 against the British Pound (GBP). It lost 10 paisas against the Euro (EUR) in today’s interbank currency market.