Pakistani Rupee Continues Its Losing Streak Against All Major Currencies

After touching the highest value in three months on Friday (February 12) against the US Dollar last week, Pakistani Rupee seems to have lost its standing.

This week, PKR lost against all major currencies in the inter-bank currency market.


Pakistani Rupee Rises to Its Highest Value in 3 Months

In the previous week, PKR posted a total improvement of Rs. 1.17 against the greenback. It closed at Rs. 158.81 to the USD on Friday. Before this, on November 15, 2020, the USD had been at Rs. 158.31.

However, on Monday (February 15), PKR lost 45 paisas to the USD, and on Tuesday (February 16), posted a loss of 26 paisas.

Today, PKR closed at Rs. 159.54 to the USD, as opposed to Monday’s exchange rate of Rs. 159.27 to the USD, which came as deterioration on Friday’s Rs. 158.81 to the USD. For now, PKR maintains below Rs. 160 exchange rate against the greenback.


Against the Euro, while PKR closed the previous week with an improvement of 56 paisas but lost Rs. 1.08 on Monday and today compounded that loss by 39 paisas.

The PKR had posted gains against the GBP towards the end of last week, closing with a gain of Rs. 1.01 to the GBP. Yesterday and today, however, PKR deteriorated against GBP with a whopping Rs. 2.47 loss on Monday and 78 paisas loss on Tuesday.

The PKR had also shown improvement against the Australian Dollar (AUD), closing with an improvement of 48 paisas against the AUD on Friday. Monday saw PKR go down by Rs. 1.3 to the AUD and Tuesday added a further erosion of 18 paisas for PKR here.


Rupee Posts Blanket Gains Against All Major Currencies

The PKR went up notably by 80 paisas against the Canadian Dollar (CAD) on Friday but ended up losing even more on Monday, posting a loss of Rs. 1.17 against the CAD. Tuesday also saw PKR deteriorate further with a loss of 45 paisas.

PKR has also been posting losses against both the AED and the SAR with infrequent improvements. However, in the last week, the trend had consistently been of improvement. Friday saw PKR post gains of 6 paisas against both currencies. This week brought the losing trend back, with PKR losing 12 paisas on Monday and 7 paisas on Tuesday against both currencies.

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