Rupee Ends Week With Losses Against US Dollar, Other Currencies

The Pakistani rupee lost further ground second day in a row against the US Dollar today after opening trade at 282 in the interbank market.

At 11:30 PM, it was bullish, jumping to the 281 level against the greenback after gaining Rs. 4 during early-day trade.

Later, the interbank rate dropped back to 285 between 1:30 PM and 2:30 PM before anchoring trends for the remainder of the day. Open market rates across multiple currency counters stood in the 284-286 range today.

At close, the PKR depreciated by 0.04 percent to close at 285.37 after losing 10 paisas against the dollar today.

The rupee closed in the red second day in a row today.

Overall, the rupee is down nearly Rs. 68 since January 2023. Since April 2022, it is down over Rs. 115 against the greenback. As per exchange rate movements witnessed today, the PKR has lost 10 paisas against the dollar.

The PKR was red against most of the other major currencies in the interbank market today. It lost three paisas against the Saudi Riyal (SAR), three paisas against the UAE Dirham (AED), eight paisas against the Euro (EUR), 15 paisas against the Australian Dollar (AUD), and Rs. 1.43 against the British Pound (GBP).

Conversely, it gained 11 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.

Published by
Ahsan Gardezi