Rupee Reverses Losses Against Most Currencies After Bears Retreat

The Pakistani rupee (PKR) closed in green reversing its 2-day losing streak 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 279-281 level today. It was stable wall 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 13 paisas and closed at 278.72 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.15 percent. 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 two paisas against the Saudi Riyal (SAR). Meanwhile, it gained 86 paisas against the Canadian Dollar (CAD). It gained 58 paisas against the Euro (EUR) and 70 paisas against the British Pound (GBP). The rupee lost 12 paisas against the Australian Dollar (AUD) in today’s interbank currency market.