The Pakistani Rupee (PKR) lost 13 paisas against the US Dollar (USD) in the interbank currency market on the final day of the week.
This adds to a loss of 11 paisas on Thursday that came after a gain of 10 paisas on Wednesday, eight paisas on Tuesday, and 19 paisas on Monday.
The PKR closed at Rs. 160.74 to the USD on Friday (January 22) as compared to Rs. 160.61 on Thursday which was down from Rs. 160.50 to the USD on Wednesday after an improvement on Rs. 160.60 to the greenback on Tuesday that had reduced from Rs. 160.52 on Monday.
Except for its major gains on Monday this week, the PKR had more deterioration than gains on Tuesday, Wednesday, and Thursday. Friday seems to have halted its deterioration against the Great British Pound (GBP), the Australian Dollar (AUD), and the Canadian Dollar (CAD).
On Thursday, the PKR eroded against every major currency in the international currency market while repeating a blanket loss from earlier in the week on Tuesday.
However, on Friday, it gained 42 paisas to the GBP after posting notable losses of 96 paisas, Rs. 1.03 and Rs. 1.02 on Tuesday, Wednesday, and Thursday respectively. Additionally, Monday brought a significant improvement of Rs. 1.52 for the PKR against the GBP.
Today’s interbank market saw it improve by 32 paisas against the AUD after three days of deterioration of 74 paisas, 15 paisas, and 56 paisas respectively on Tuesday, Wednesday, and Thursday. Monday also provided it a gain of 83 paisas against the USD.
Similarly, the PKR improved by 48 paisas against the CAD in the international currency market on the final day of the week after posting losses on three weekdays. It had lost 59 paisas on Tuesday, 25 on Wednesday, and 85 on Thursday against the CAD. The trend had been one of improvement by 86 paisas on the opening day of the week.
The PKR could not turn the consistent three days of its deterioration against the Euro. After losing 71 paisas to the Euro on Tuesday, 16 paisas on Wednesday, and 11 paisas on Thursday, the PKR lost 94 paisas to it on the closing day of the week. Its only improvement against Euro this week had also been on only the opening day of when it gained 61 paisas.
The PKR has gradually been posting losses against both the UAE Dirham (AED) and the Saudi Arabian Riyal (SAR). Friday was no different with a loss of three paisas against both currencies. It lost four paisas to both the currencies on Monday and two paisas on Tuesday, gained two paisas on Wednesday, but lost three paisas again on Thursday.