The Pakistani rupee closed the week with more gains 9th day in a row against the US Dollar today after opening trade at 283 in the interbank market.
At 11:30 PM, it was bullish, rising as high as 278 after gaining ~Rs. 4 against the greenback during intraday trade.
The interbank rate dropped back to 281 before anchoring trends at the 282 level for the remainder of the day. Open market rates across multiple currency counters were stable in the 281-283 range today.
At close, the PKR appreciated by 0.09 percent to close at 282.53 after gaining 26 paisas against the dollar today.
The rupee closed in the green 9th day in a row today. On a calendar year-to-date basis, it has so far depreciated by 19.86 percent and appreciated by 1.23 percent on a fiscal YTD basis.
Overall, the rupee is down nearly Rs. 64 since January 2023. Since April 2022, it is down over Rs. 111 against the greenback. As per exchange rate movements seen today, the PKR has gained 26 paisas against the dollar.
The PKR has ended the week on a high, as traders informed ProPakistani recently. Today, a trader offered similar forecasts for gradual gains after the long weekend, with random drops in value still possible as the government gears up for fresh fuel purchases in the coming weeks.
The PKR was red against some of the other major currencies in the interbank market today. It lost 98 paisas against the Canadian Dollar (CAD), 83 paisas against the Australian Dollar (AUD), Rs. 1.24 against the Euro (EUR), and Rs. 1.24 against the British Pound (GBP).
Conversely, it gained six paisas against the UAE Dirham (AED) and six paisas against the Saudi Riyal (SAR) in today’s interbank currency market.
