The Pakistani rupee (PKR) closed in red against the US Dollar (USD) 2nd day in a row today after opening trade at 280 in the interbank market.
On a day-on-day (DoD) basis, the interbank rate stayed at 279-281/$ most of the day before closing at the 279 level. Open market rates across multiple currency counters remained at the 280-282 level today.
It was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against some of the other major currencies during today’s session.
The PKR depreciated by 0.03 percent and lost nine paisas to close at 279.66 against the US Dollar today.
On a fiscal year-to-date basis, the rupee has so far depreciated by 0.47 percent.
The PKR was red against some of the other major currencies in the interbank market today.
It lost two paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR).
Meanwhile, it gained 24 paisas against the Canadian Dollar (CAD).
It gained 22 paisas against the Euro (EUR) and 68 paisas against the British Pound (GBP).
The rupee lost 73 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
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Govt is culprit this time as well. Keeping artificially lower rates in interbank compelling people to use alternative ways for much better rates.