The Pakistani rupee (PKR) closed in red against the US Dollar (USD) and also posted losses against the British Pound (GBP) on Monday.
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 rose again to 387-392 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. 392.5.
PKR was bearish all day and closed in red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session.
The PKR depreciated by 0.01 percent and lost one paisa to close at 284.97 against the US Dollar today.
On a fiscal year-to-date basis (FYTD), the PKR has lost 2.15 percent against the US Dollar.
Other currencies
The PKR was red against most of the other major currencies in the interbank market today.
It was stable against the UAE Dirham (AED) and also against the Saudi Riyal (SAR).
Meanwhile, it lost 60 paisas against the Canadian Dollar (CAD).
The rupee gained four paisas against the Australian Dollar (AUD) in today’s interbank currency market.
It lost Rs. 1.53 against the Euro (EUR) and 90 paisas against the British Pound (GBP).
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Why the rates invariably differ from the market rates? What are the rates you quote? You can never buy at these rates. You are always told “mal short hai”