Rupee Stable But Closes in Red Against All Major Currencies

The Pakistani rupee (PKR) closed in red against the US Dollar (USD) second day in a row today after opening trade at 279 in the interbank market. It was stable all day but closed in red against the greenback. Meanwhile, it posted losses against all of the other major currencies during today’s session. The interbank rate stayed at 278-279/$ most of the day before closing at the 278 level. Open market rates across multiple currency counters remained at the 278-281 level today. The PKR lost one paisa and closed at 278.46 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.05 percent. The PKR was red against all of the other major currencies in the interbank market today. It remained unchanged but closed in red against the Saudi Riyal (SAR) and the UAE Dirham (AED). Meanwhile, it lost two paisas against the Canadian Dollar (CAD). It lost six paisas against the Euro (EUR) and 98 paisas against the British Pound (GBP). The rupee lost 21 paisas against the Australian Dollar (AUD) in today’s interbank currency market.