The Pakistani rupee reversed its two-day winning streak against the US Dollar after opening trade at 279 in the interbank market.
It was a bit bearish against the greenback today after Prime Minister Shehbaz Sharif’s 19-member federal cabinet was sworn in today.
The interbank rate stayed at 280 most of the day before closing at the same level. Open market rates across multiple currency counters were in the 278-280 range today.
The PKR depreciated by 0.015 percent to close at 279.08 after losing four paisas against the dollar today.
On a fiscal year-to-date basis, the rupee has so far appreciated by 2.45 percent.
Overall, the rupee is down nearly Rs. 52.81 since January 2023. Since April 2022, it is down Rs. 96.91 against the greenback. As per the exchange rate movements seen today, the PKR lost four paisas today.
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), one paisa against the Saudi Riyal (SAR), 25 paisas against the Euro (EUR), and 84 paisas against the British Pound (GBP).
Meanwhile, it gained 65 paisas against the Canadian Dollar (CAD) and 46 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
