Rupee Slips 2nd Day in a Row Against US Dollar As Uncertainty Rises

The Pakistani rupee (PKR) closed in red 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 red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR depreciated by 0.04 percent DoD after losing 10 paisas and closed at 281.76 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.24 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it was stable against the Canadian Dollar (CAD). The rupee lost 98 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It lost 90 paisas against the Euro (EUR) and Rs. 1.56 against the British Pound (GBP).