Rupee Reverses Losing Streak Against Major Currencies But Uncertainty Lingers

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) on Thursday. 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 0.04 percent DoD after gaining 10 paisas and closed at 281.61 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.18 percent against the US Dollar. The PKR was green against most of the other major currencies in the interbank market today. It gained two 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 gained Rs. 1.98 against the Australian Dollar (AUD) in today’s interbank currency market. It gained 57 paisas against the Euro (EUR) and Rs. 1.75 against the British Pound (GBP).