For the fifth consecutive day, the Pakistani rupee exhibited a marginal rise against the US Dollar in the interbank market, starting at 280. By 11:30 PM, it peaked at 280, experiencing an intraday gain of approximately Rs. 1.
Subsequently, the interbank rate slightly receded to 281, maintaining this level for the rest of the day. Open market rates, observed across various currency counters, remained steady within the 280-282 range.
Closing at 281.22, the PKR appreciated by 0.02 percent, marking a gain of six paisas against the US dollar for the day. This positive streak extends to the fifth day, following a 13-day win streak halt last week. On a fiscal year-to-date basis, the rupee has seen an overall appreciation of 1.69 percent.
However, it’s essential to note that the rupee has faced depreciation over more extended periods. Since January 2023, it has decreased by nearly Rs. 62, and from April 2022, the devaluation against the US dollar stands at over Rs. 109. In the latest exchange rate movements, the PKR gained six paisas against the dollar.
While the rupee experienced a positive trend against the US dollar, it depreciated against several other major currencies in the interbank market. Notable losses include 39 paisas against the Australian Dollar (AUD), 42 paisas against the Canadian Dollar (CAD), 55 paisas against the Euro (EUR), and Rs. 1.10 against the British Pound (GBP).
Conversely, it gained one paisa against the UAE Dirham (AED) and one paisa against the Saudi Riyal (SAR) in today’s interbank currency market.
