The Pakistani rupee reversed its 13-day winning streak against the US Dollar today after opening trade at 280 in the interbank market.
At 11:30 PM, it was bullish, rising as high as 280 after gaining ~Rs. 2 against the greenback during intraday trade.
The interbank rate later dropped back to 282 before anchoring trends at 281 for the remainder of the day. Open market rates across multiple currency counters were stable in the 280-283 range today.
At close, the PKR depreciated by 0.01 percent to close at 281.89 after losing three paisas against the dollar today.
The rupee closed in the red, reversing its 13-day winning streak today. On a calendar year-to-date basis, it has so far depreciated by 0.01 percent and appreciated by 1.45 percent on a fiscal YTD basis.
Overall, the rupee is down nearly Rs. 62 since January 2023. Since April 2022, it is down over Rs. 109 against the greenback. As per exchange rate movements seen today, the PKR has lost three paisas against the dollar.
The PKR was red against most of the other major currencies in the interbank market today. It lost one paisa against the UAE Dirham (AED), 20 paisas against the Canadian Dollar (CAD), 46 paisas against the Australian Dollar (AUD), and 74 paisas against the British Pound (GBP).
Conversely, it was stable against the Saudi Riyal (SAR) and gained 68 paisas against the Euro (EUR) in today’s interbank currency market.
Good