The Pakistani rupee (PKR) posted losses against the US Dollar (USD) but more 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 287-290 level today. A few sellers quoted Rs. 291/$ in the federal capital today.
GBP dropped down to 385-389 against the PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the buying rate stood at 385 while several exchange shops across main cities were selling GBP at rates as high as Rs. 389.
PKR was bearish all day and closed in red against the greenback. Meanwhile, it posted gains against some of the other major currencies during today’s session.
The PKR depreciated by 0.10 percent DoD after losing 29 paisas and closed at 284.96 against the US Dollar today.
On a fiscal year-to-date basis (FYTD), the PKR has lost 2.14 percent against the US Dollar.
The PKR was green against some of the other major currencies in the interbank market today.
It lost seven paisas against the UAE Dirham (AED) and seven paisas against the Saudi Riyal (SAR).
Meanwhile, it gained 21 paisas against the Canadian Dollar (CAD).
The rupee gained Rs. 1.03 against the Australian Dollar (AUD) in today’s interbank currency market.
It gained Rs. 1.62 against the Euro (EUR) and Rs. 1.01 against the British Pound (GBP).