The Pakistani rupee (PKR) posted gains against the US Dollar (USD) and more gains against the British Pound (GBP) on Tuesday.
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 286-289 level today. A few sellers again quoted Rs. 290/$ at a few counters in the federal capital today.
GBP dropped down to 386-390 against the PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the buying rate stood at 386 while several exchange shops across main cities were selling GBP at rates as high as Rs. 390.
PKR was stable all day and closed in green against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session.
The PKR appreciated by 0.02 percent DoD after gaining four paisas and closed at 284.67 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 gained one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR).
Meanwhile, it gained 21 paisas against the Canadian Dollar (CAD).
The rupee gained 17 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
It gained one paisa against the Euro (EUR) and Rs. 1.21 against the British Pound (GBP).
That’s not recovery at all. Fake news. This is marginal