Pak Rupee Rises 2nd Day in a Row Against US Dollar

The Pakistani rupee rose second day in a row against the US Dollar today after opening trade at 279 in the interbank market following more post-election clarity.

It was stable mostly against the greenback but managed to stay at yesterday’s level against the $ during intraday trade today.

The interbank rate stayed at 280 most of the day before closing at the 279 level. Open market rates across multiple currency counters were in the 279-280 range today.

The PKR appreciated by 0.06 percent and gained 17 paisas to close at 279.32 against the dollar today.

On a fiscal year-to-date basis, the rupee has so far appreciated by 2.37 percent.

Overall, the rupee is down nearly Rs. 60 since January 2023. Since April 2022, it is down over Rs. 107 against the greenback. As per the exchange rate movements seen today, the PKR gained 17 paisas today.

The PKR was red against most of the other major currencies in the interbank market today. It lost 76 paisas against the Australian Dollar (AUD), 98 paisas against the Canadian Dollar (CAD), Rs. 1.29 against the Euro (EUR), and Rs. 1.69 against the British Pound (GBP) in today’s interbank currency market.

Meanwhile, it gained four paisas against both the Saudi Riyal (SAR) and the UAE Dirham (AED).

Published by
ProPK Staff