Rupee Reverses 3-Day Losing Streak Against US Dollar and Other Currencies

US Dollar

The Pakistani rupee (PKR) reversed its three-day losing streak against the US Dollar today, opening trade at 278 in the interbank market.

The PKR showed a bullish trend throughout the day, closing in the green against the US Dollar and recovering against other major currencies during today’s session.

The interbank rate remained steady at 278/$ for most of the day before closing at the same level. Open market rates across multiple currency counters also held firmly at 278.

The PKR appreciated by 0.06 percent, closing at 278.3 after gaining 17 paisas against the dollar today.

On a fiscal year-to-date basis, the rupee has appreciated by 2.86 percent. However, overall, the rupee is down nearly Rs. 51.10 since January 2023 and Rs. 95.10 against the greenback since April 2022. The exchange rate movements during the session showed the PKR gaining 17 paisas today.

In the interbank market, the PKR was in the green against other major currencies as well. It gained four paisas against the Saudi Riyal (SAR), four paisas against the UAE Dirham (AED), and Rs. 1.02 against the British Pound (GBP).

Additionally, the PKR gained 40 paisas against the Canadian Dollar (CAD), 63 paisas against the Euro (EUR), and 92 paisas against the Australian Dollar (AUD) in today’s interbank currency market.