Pakistani Rupee Crashes Against Euro, Other Currencies

The Pakistani rupee (PKR) started the week with losses against the US Dollar today after opening trade at 278 in the interbank market.

It was bearish all day and closed in red against the greenback. Meanwhile, it posted big losses against most of the other major currencies during today’s session. It lost almost Rs. 5 against the Euro today.

The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at the 278 level today.

The PKR depreciated by 0.05 percent and closed at 278.6 after losing 13 paisas against the dollar today.

On a fiscal year-to-date basis, the rupee has so far depreciated by 0.10 percent.

Overall, the rupee is down nearly Rs. 51.72 since January 2023. Since April 2022, it is down Rs. 95.72 against the greenback. As per the exchange rate movements seen during the session, the PKR lost almost 13 paisas today.

The PKR was red against most of the other major currencies in the interbank market today.

It lost two paisas against the Saudi Riyal (SAR), three paisas against the UAE Dirham (AED), five paisas against the Canadian Dollar (CAD), Rs. 2.84 against the British Pound (GBP), and Rs. 4.66 against the Euro (EUR).

Meanwhile, it gained Rs. 1.68 against the Australian Dollar (AUD) in today’s interbank currency market.