Rupee Up 2nd Day in a Row Against Rampant Dollar Despite Global Pressure

The Pakistani rupee (PKR) closed in green second day in a row against the US Dollar (USD) today after opening trade at 280 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 280-281/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 281 level today. It was stable all day and closed in green against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session. The PKR appreciated by 0.04 percent DoD after gaining 10 paisas and closed at 280.46 against the US Dollar today. On a fiscal year to date basis (FYTD), the PKR has lost 0.76 percent against the US Dollar. The PKR was green against most of the other major currencies in the interbank market today. It gained three paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR). Meanwhile, it gained 97 paisas against the Canadian Dollar (CAD). The rupee gained 53 paisas against the Australian Dollar (AUD) in today’s interbank currency market. It lost six paisas against the Euro (EUR) and Rs. 1.12 against the British Pound (GBP).