For the seventh consecutive day, the Pakistani rupee experienced a slight rise against the US Dollar in the interbank market, opening at 281. By 11:30 PM, it reached a peak of 280, marking an intraday gain of approximately Rs. 1 against the greenback.
Subsequently, the interbank rate retreated to 281, maintaining this level for the remainder of the day. Open market rates, observed across various currency counters, remained steady in the 280-283 range.
At the close, the PKR exhibited a 0.01 percent appreciation, concluding at 281.11 after a marginal gain of two paisas against the dollar on that day. This marks the seventh consecutive day of the rupee closing in the green, following a 13-day winning streak halt last week. On a fiscal year-to-date basis, the rupee has appreciated by 1.74 percent.
While the rupee has seen a seven-day positive trend, its overall performance shows a decline of nearly Rs. 62 since January 2023 and over Rs. 109 against the greenback since April 2022. On the day’s exchange rate movements, the PKR gained two paisas against the dollar.
In contrast to the positive movement against the US Dollar, the PKR faced depreciation against several major currencies in the interbank market, losing ground against the Australian Dollar, Canadian Dollar, Euro, and British Pound.
However, it remained stable against the UAE Dirham and the Saudi Riyal in today’s interbank currency market.
