For the sixth consecutive day, the Pakistani rupee exhibited a marginal rise against the US Dollar in the interbank market, commencing trade at 280. By 11:30 PM, the rupee had stabilized, reaching as high as 279 during intraday trade, marking an increase of approximately Rs. 2 against the greenback.
Subsequently, the interbank rate retraced to 281, maintaining this level for the rest of the day. Open market rates across various currency counters remained steady within the 280-282 range.
Closing the day with a 0.03 percent appreciation, the PKR concluded at 281.13, gaining nine paisas against the dollar. This positive trend continued for the sixth consecutive day, following a pause in its 13-day winning streak the previous week. Year-to-date, the rupee has appreciated by 1.73 percent.
However, in a broader perspective, the rupee has witnessed a decline of nearly Rs. 62 since January 2023 and a significant drop of over Rs. 109 against the US Dollar since April 2022. In the context of the day’s exchange rate fluctuations, the PKR gained nine paisas against the dollar.
The PKR displayed strength against other major currencies in the interbank market, recording gains of 20 paisas against the Australian Dollar (AUD), 54 paisas against the Canadian Dollar (CAD), 94 paisas against the Euro (EUR), and Rs. 1.38 against the British Pound (GBP).
Additionally, it gained two paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR) in today’s interbank currency market.
