The Pakistani rupee dropped against the US Dollar for the fourth consecutive day in the interbank market, opening trade at 279.
Today, the Pakistani rupee showed bearish trends against the US Dollar and other major currencies. In the interbank market, the rate remained mostly at 279 throughout the day, eventually closing at 278. Open market rates ranged between 278-280 across various currency counters. The PKR depreciated by 0.01 percent, closing at 278.44 after a loss of four paisas against the dollar.
On a fiscal year-to-date basis, the rupee has appreciated by 2.66 percent. However, it has faced significant depreciation since January 2023, down nearly Rs. 51.54. Since April 2022, it has decreased by Rs. 95.54 against the US Dollar. Today, the PKR lost four paisas against the dollar and displayed red trends against other major currencies in the interbank market. It depreciated by one paisa against the UAE Dirham (AED), one paisa against the Saudi Riyal (SAR), 57 paisas against the British Pound (GBP), 94 paisas against the Australian Dollar (AUD), and Rs. 1.62 against the Euro (EUR).
It lost 89 paisas against the Canadian Dollar (CAD) in today’s interbank currency market.
