The Pakistani rupee (PKR) closed in red 2nd day in a row against the US Dollar (USD) but more gains against the British Pound (GBP) on Thursday.
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. 290/$ 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 stable all day but closed in red against the greenback. Meanwhile, it posted gains against most of the other major currencies during today’s session.
The PKR 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.
Other currencies
The PKR was green against most of the other major currencies in the interbank market today.
It was stable against the UAE Dirham (AED) and the Saudi Riyal (SAR).
Meanwhile, it gained 45 paisas against the Canadian Dollar (CAD).
The rupee gained Rs. 1.72 against the Australian Dollar (AUD) in today’s interbank currency market.
It gained 78 paisas against the Euro (EUR) and 38 paisas against the British Pound (GBP).
🤣🤣🤣🤣🤣
So many taxes
So many policies
So much privatization
So many promises
And still currency is going down
Unfortunate indeed. FBR policies to slash duties on import of luxury items are paying dearly now. One of the good things is that luxury items are made easy to import while LCs are not being opened to import edible oil and other essentials. A country, where poor man items are taxed and luxuries exempted. BRAVO, keep the economic massacre of masses go unabated and harbour the mafias.