Islamabad, Jan 29: The Pakistani rupee (PKR) ended its three-day bearish streak today, showing a modest gain against the US Dollar (USD) after opening at 279 in the interbank market. The exchange rate fluctuated within the 278-280 range throughout the day, before ultimately closing at 278.87, marking a 0.02 percent appreciation or a gain of five paisas against the USD. Open market rates remained relatively stable, ranging between 279-281.
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The positive performance of the rupee extended beyond the greenback, with the PKR also strengthening against several other major currencies. It appreciated by one paisa against both the UAE Dirham (AED) and the Saudi Riyal (SAR), while it gained 17 paisas against the Canadian Dollar (CAD) and 47 paisas against the Euro (EUR). However, the rupee saw a slight depreciation against the British Pound (GBP), losing 22 paisas. It also gained 38 paisas against the Australian Dollar (AUD).
Despite today’s positive performance, the rupee has depreciated by 0.20 percent on a fiscal year-to-date basis. Overall, today’s movement suggests a slight stabilization for the rupee, especially against most major currencies, offering a glimmer of hope in the ongoing currency market fluctuations.
