Rupee Rises 2nd Day in a Row Against US Dollar

The Pakistani rupee posted gains second day in a row against the US Dollar today after opening trade at 280 in the interbank market.

At 11:30 PM, it was stable, rising as high as 278 after gaining ~Rs. 2 against the greenback during intraday trade.

The interbank rate later dropped back to 280 before closing at the 279 level for the remainder of the day. Open market rates across multiple currency counters were stable in the 278-281 range today.

At close, the PKR appreciated by 0.04 percent to close at 279.97 after gaining 12 paisas against the dollar today.

The rupee closed in the green second day in a row today. On a fiscal year-to-date basis, it has so far appreciated by 2.14 percent.

Overall, the rupee is down nearly Rs. 61 since January 2023. Since April 2022, it is down over Rs. 108 against the greenback. As per exchange rate movements seen today, the PKR has gained 12 paisas against the dollar.

The PKR was red against some of the other major currencies in the interbank market today. It lost 20 paisas against the Canadian Dollar (CAD), 23 paisas against the Euro (EUR), and 72 paisas against the British Pound (GBP).

Meanwhile, it gained three paisas against the UAE Dirham (AED), three paisas against the Saudi Riyal (SAR) and six paisas against the Australian Dollar (AUD) in today’s interbank currency market.