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Rupee Gains for Second Consecutive Day Against US Dollar

The Pakistani rupee (PKR) gained slightly against the US Dollar today, starting trade at 278 in the interbank market.

It remained stable throughout the day and closed stronger against the dollar for the second consecutive day. Additionally, it posted gains against most other major currencies during today’s session.

The interbank rate held steady at 278/$ for most of the day before closing at the same level. Open market rates at various currency counters also stayed at 278 today.

The PKR appreciated by 0.02 percent, closing at 278.34 after gaining seven paisas against the dollar today. On a fiscal year-to-date basis, the rupee has appreciated by 0.004 percent.

Overall, the rupee has depreciated nearly Rs. 51.43 since January 2023. Since April 2022, it has fallen by Rs. 95.43 against the dollar. Based on today’s exchange rate movements, the PKR gained seven paisas.

The PKR also strengthened against some other major currencies in the interbank market today.

It gained two paisas against the UAE Dirham (AED), two paisas against the Saudi Riyal (SAR), and 85 paisas against the British Pound (GBP).

However, it lost three paisas against the Euro (EUR), 14 paisas against the Canadian Dollar (CAD), and 59 paisas against the Australian Dollar (AUD) in today’s interbank currency market.

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