The Pakistani rupee (PKR) posted losses 4th day in a row against the US Dollar (USD) and also reversed gains against the British Pound (GBP) on Wednesday.
On a day-on-day (DoD) basis, the interbank rate stayed at 285/$ most of the day before closing at the 284 level. Open market rates across multiple currency counters remained at the 285-289 level today. A few sellers again quoted Rs. 290/$ at a few counters in the federal capital today.
GBP stayed at 387-393 against the PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the selling rate stood at 387 while several exchange shops across main cities were selling GBP at rates as high as Rs. 393.
PKR was bearish all day and closed in red against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session.
The PKR depreciated by 0.04 percent DoD after losing 10 paisas and closed at 284.46 against the US Dollar today.
On a fiscal year-to-date basis (FYTD), the PKR has lost 2.04 percent against the US Dollar.
Other currencies
The PKR was green against most 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 62 paisas against the Canadian Dollar (CAD).
The rupee gained 40 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
It gained Rs. 1.18 against the Euro (EUR) and Rs. 1.09 against the British Pound (GBP).
290? Seriously? we are seeing more than 300…