Islamabad, Feb 6: The Pakistani rupee (PKR) showed mixed results in the currency market today, closing in the green against the US Dollar (USD) after opening at 280 in the interbank market. Throughout the day, the rupee hovered between 278 and 281 against the dollar, eventually settling at 279.14 by the end of the trading session. In the open market, rates remained between 279 and 282.
Despite the positive close against the greenback, the rupee experienced a bearish trend against most other major currencies during today’s session. The PKR depreciated by 0.07 percent on a day-on-day (DoD) basis, losing 19 paisas compared to the previous session. On a fiscal year-to-date basis, the rupee has depreciated by 0.3 percent.
Against other major currencies, the rupee continued its downward trajectory. It lost five paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR). The rupee also fell by Rs. 1.42 against the Canadian Dollar (CAD), Rs. 1.73 against the Euro (EUR), and Rs. 1.86 against the British Pound (GBP). Additionally, it lost Rs. 1.84 against the Australian Dollar (AUD).
The ongoing depreciation of the rupee reflects broader economic challenges, including inflationary pressures and external factors influencing the currency market. Although the rupee showed some resilience against the US Dollar, the losses against other currencies indicate continued volatility in the market, with traders and analysts closely monitoring future trends.
