Islamabad, Nov 29: Rupee Closes Week Lower After Fourth Straight Decline Against Major Currencies. After starting the day at 278 in the interbank market, the Pakistani rupee (PKR) ended the day in negative territory versus the US dollar (USD) for the fourth consecutive day.
Despite staying at yesterday’s level, it was bearish throughout the day and ended the day lower versus the US dollar. During today’s session, it reported losses in relation to the majority of the other major currencies.
Before closing at the 277 level, the interbank rate remained at that level for the majority of the day. Today, open market rates at several currency counters stayed between 278 and 281.After losing barely half a paisa against the US dollar today, the PKR ended the day at 278.05.
On a fiscal year-to-date basis, the rupee has so far appreciated by 0.11 percent. The PKR was red against most of the other major currencies in the interbank market today.It was flat versus the UAE Dirham (AED) but gained one paisa against the Saudi Riyal (SAR).
In the meantime, it dropped 44 paisas in value relative to the Canadian dollar (CAD). It lost Rs. 1.75 versus the British Pound (GBP) and Rs. 1.17 versus the Euro (EUR). Today’s interbank currency market saw the rupee drop 96 paisas against the Australian dollar (AUD).
