Rupee Starts 2025 in Red Against US Dollar After 4th Consecutive Decline

The Pakistani rupee (PKR) closed in red against the US Dollar (USD) 4th day in a row today after opening trade at 279 in the interbank market. On a day-on-day (DoD) basis, 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. It was volatile all day and closed in red against the greenback. Meanwhile, it posted gains against some of the other major currencies during today’s session. The PKR depreciated by 0.03 percent DoD after losing nine paisas and closed at 278.64 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.13 percent. The PKR was red against some of the other major currencies in the interbank market today. It lost two paisas against the UAE Dirham (AED) and six paisas against the Saudi Riyal (SAR). Meanwhile, it gained 34 paisas against the Canadian Dollar (CAD). It gained 81 paisas against the British Pound (GBP) and Rs. 1.19 against the Euro (EUR). The rupee gained 31 paisas against the Australian Dollar (AUD) in today’s interbank currency market.