Rupee Slips Near 383 Against British Pound As Market Reels from Budget News

The Pakistani rupee (PKR) closed in green against the US Dollar (USD) on Thursday but in red against the British Pound (GBP). On a day-on-day (DoD) basis, the interbank rate stayed at 282-283/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 282-284 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR appreciated by 0.02 percent DoD after gaining five paisas and closed at 282.17 against the US Dollar today. On a fiscal year-to-date basis (FYTD), the PKR has lost 1.36 percent against the US Dollar. The PKR was red against most of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR). Meanwhile, it lost 72 paisas against the Canadian Dollar (CAD). The rupee lost Rs. 1.15 against the Australian Dollar (AUD) in today’s interbank currency market. It lost 74 paisas against the Euro (EUR) and 99 paisas against the British Pound (GBP).