Rupee Suddenly Ends Its 3-Day Losing Streak Against US Dollar

The Pakistani rupee (PKR) closed in green against the US Dollar (USD)reversing its 3-day losing streak today after opening trade at 280 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 279-280/$ most of the day before closing at the 279 level. Open market rates across multiple currency counters remained at the 280-281 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted gain against most of the other major currencies during today’s session. The PKR appreciated by 0.02 percent and gained five paisas to close at 279.61 against the US Dollar today. On a fiscal year-to-date basis, the rupee has so far depreciated by 0.45 percent. The PKR was green against most of the other major currencies in the interbank market today. It gained one paisa against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR). Meanwhile, it gained 91 paisas against the Canadian Dollar (CAD). It lost 75 paisas against the Euro (EUR) and 83 paisas against the British Pound (GBP). The rupee gained 27 paisas against the Australian Dollar (AUD) in today’s interbank currency market.