Rupee Up 4th Day in a Row Against US Dollar As Market Momentum Persists

The Pakistani rupee (PKR) was stable against the US Dollar today after opening trade at 278 in the interbank market.

It was stable all day and closed in green against the greenback 4th day in a row. Meanwhile, it posted losses against most of the other major currencies during today’s session.

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 appreciated by 0.04 percent to close at 278.34 after gaining 10 paisas against the US Dollar today.

On a fiscal year-to-date basis, the rupee has so far appreciated by 0.09 percent.

Overall, the rupee is down nearly Rs. 51.44 since January 2023. Since April 2022, it is down Rs. 95.44 against the greenback. As per the exchange rate movements seen during the session, the PKR gained 10 paisas today.

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

It lost 67 paisas against the Canadian Dollar (CAD), 73 paisas against the British Pound (GBP), 89 paisas against the Euro (EUR), and 97 paisas against the Australian Dollar (AUD).

Meanwhile, it gained one paisa against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED) in today’s interbank currency market.