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

It was largely bearish and closed in red against the greenback. However, it managed to post some gains against other major currencies 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 278 today.

The PKR depreciated by 0.03 percent to close at 278.19 after losing seven paisas against the dollar today.

On a fiscal year-to-date basis, the rupee has so far appreciated by 2.8 percent.

Overall, the rupee is down nearly Rs. 50.99 since January 2023. Since April 2022, it is down Rs. 94.99 against the greenback. As per the exchange rate movements seen during the session, the PKR lost seven paisas today.

The PKR was red against some of the other major currencies in the interbank market today. It lost two paisas against the Saudi Riyal (SAR), two paisas against the UAE Dirham (AE
D), and nine paisas against the Canadian Dollar (CAD).

Meanwhile, it gained 15 paisas against the Euro (EUR), 15 paisas against the British Pound (GBP), and 31 paisas against the Australian Dollar (AUD) in today’s interbank currency market.

Source: Pro Pakistani