The Pakistani rupee extended its recovery for the 9th consecutive day against the US Dollar, commencing trade at 279 in the interbank market. By 11:30 PM, it stabilized, reaching as high as 279 after an intraday increase of approximately Rs. 1 against the dollar.
Subsequently, the interbank rate dipped to 280 before settling at the same level for the remainder of the day. Open market rates held steady within the 279-281 range.
At closure, the PKR exhibited a 0.04 percent appreciation, concluding at 280.24 after gaining 12 paisas against the dollar. This marks the rupee’s ninth consecutive day of positive performance, accumulating a fiscal year-to-date appreciation of 2.05 percent.
Despite the recent recovery, the rupee has faced challenges, depreciating by nearly Rs. 61 since January 2023 and over Rs. 108 against the dollar since April 2022. Notably, in today’s exchange rate movements, the PKR gained 12 paisas against the dollar.
In the interbank market, the PKR showcased strength against other major currencies, registering gains of 93 paisas against the Canadian Dollar (CAD), 97 paisas against the British Pound (GBP), Rs. 1.11 against the Australian Dollar (AUD), and 76 paisas against the Euro (EUR).
Additionally, it gained three paisas against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR) in today’s currency market transactions.
