For the second day in a row, the Pakistani rupee (PKR) is closing the day under red ink against the US Dollar (USD). Opening 278 in the interbank market remained bearish throughout the day, closing at 277.96, losing 12 paise. The interbank rate hovered around 278/$ before settling at 277, while open market rates varied between 278 and 281 across multiple currency counters.
Losses against other major currencies accompanied this depreciation of only 0.04 percent against the US Dollar. The PKR is also down against the Saudi Riyal (SAR) and the UAE Dirham (AED) by three paisas against each. It recorded a significant fall against the Canadian Dollar (CAD) by Rs. 1.12.
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The other depreciation includes 41 paisas against the Australian Dollar (AUD) and Rs. 1.57 against the British Pound (GBP). The interbank currency market has also quoted the rupee losing 86 paisas against Euro (EUR). However, the rupee has increased at 0.14 percent for the fiscal year up till now.
