For the fifth consecutive day, the Pakistani rupee exhibited strength against the US Dollar in the interbank market, opening at 281 and closing at 283.21, marking a 0.02 percent appreciation. In intraday trade, the rupee peaked at 280, gaining approximately Rs. 1 against the dollar by 11:30 PM.
Throughout the day, interbank rates fluctuated between 280 and 281 before settling at 283. In the open market, currency counters displayed rates ranging from 281 to 284.
On a year-to-date basis, the rupee has experienced a 20.05 percent depreciation, while showing a 0.98 percent appreciation on a fiscal year-to-date basis. Since January 2023, it has depreciated by nearly Rs. 65, and since April 2022, the depreciation amounts to over Rs. 112 against the US Dollar. The latest exchange rate movements indicate a gain of five paisas for the PKR against the dollar.
In the interbank market, the Pakistani rupee demonstrated strength against various major currencies. It remained stable against the Canadian Dollar (CAD), gained one paisa against the Saudi Riyal (SAR) and the UAE Dirham (AED), and appreciated by Rs. 2.01 against the British Pound (GBP) and Rs. 2.03 against the Euro (EUR). However, the rupee faced a slight decline of 26 paisas against the Australian Dollar (AUD) in today’s interbank currency market.
