Rupee Ends Budget Week With Gains Against US Dollar

Rupee Ends Budget Week With Gains Against US Dollar

The Pakistani rupee (PKR) gained further ground 2nd day in a row against the US Dollar today after opening trade at 278 in the interbank market.

It was stable all day and closed in green against the greenback. It posted gains against the other major currencies during today’s session.

The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at 278 today.

The PKR appreciated by 0.03 percent and closed at 278.51 after gaining eight paisas against the dollar today.

On a fiscal year-to-date basis, the rupee has so far appreciated by 2.69 percent.

Overall, the rupee is down nearly Rs. 50.92 since January 2023. Since April 2022, it is down Rs. 94.92 against the greenback. As per the exchange rate movements seen during the session, the PKR gained eight paisas today.

The PKR was green against all of the other major currencies in the interbank market today. It gained 18 paisas against the Canadian Dollar (CAD), 94 paisas against the Australian Dollar (AUD), Rs. 1.7 against the British Pound (GBP), and Rs. 3.05 against the Euro (EUR).

Meanwhile, it gained two paisas against the UAE Dirham (AED) and three paisas against the Saudi Riyal (SAR) in today’s interbank currency market.

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