For the fourth consecutive day, the Pakistani rupee demonstrated a slight upward trend against the US Dollar in the interbank market. Opening at 281, it remained stable, reaching a peak of 280 and later settling at 281 during intraday trade. Open market rates fluctuated within the 280-282 range.
Closing at 281.28, the rupee appreciated by 0.04 percent, gaining 12 paisas against the dollar. This marks the rupee’s fourth consecutive day in the green after breaking its 13-day winning streak last week. Year-to-date, the rupee has appreciated by 1.67 percent, contrasting its overall decline of nearly Rs. 62 since January 2023 and over Rs. 109 since April 2022 against the US Dollar.
In today’s interbank market, the PKR displayed gains against several major currencies, including three paisas against the UAE Dirham (AED), three paisas against the Saudi Riyal (SAR), 35 paisas against the Australian Dollar (AUD), and 50 paisas against the Canadian Dollar (CAD). However, it experienced losses of 21 paisas against the Euro (EUR) and 58 paisas against the British Pound (GBP).
This currency movement reflects a dynamic trend in the forex market, showcasing the PKR’s resilience against the dollar and its varied performance against other major currencies on the given day.
