Rupee Slips Back Below 281 Against US Dollar to End Poor Week

The Pakistani rupee (PKR) closed in red against the US Dollar (USD) today after opening trade at 281 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 280-282/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 281-282 level today. It was bearish 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 0.03 percent DoD after losing eight paisas and closed at 281.06 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 0.97 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 three paisas against the Saudi Riyal (SAR). Meanwhile, it lost 15 paisas against the Canadian Dollar (CAD). The rupee lost 54 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It gained Rs. 1.64 against the Euro (EUR) and Rs. 2.55 against the British Pound (GBP).