Islamabad, Feb 17: The Pakistani rupee (PKR) closed lower against the US Dollar (USD) today after opening at 279 in the interbank market. Despite staying within the 279-281 range throughout the day, the PKR lost value, ending at 279.26 against the greenback, a decrease of 0.02 percent or five paisas.
In the open market, the exchange rates were reported to be around the 279-282 range, showing stability for most of the day before closing in the red. The PKR also posted losses against most other major currencies during today’s trading session.
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On a fiscal year-to-date basis, the rupee has depreciated by 0.33 percent. The local currency also saw losses against several other major currencies, including the UAE Dirham (AED) and the Saudi Riyal (SAR), with both seeing a decline of one paisa each.
The PKR experienced a significant loss against the Euro (EUR) and the British Pound (GBP), shedding 45 paisas and 71 paisas respectively. Similarly, the rupee lost 84 paisas against the Australian Dollar (AUD). However, it showed a positive movement against the Canadian Dollar (CAD), gaining 26 paisas. These fluctuations highlight the ongoing volatility in Pakistan’s currency market and the challenges the rupee faces amidst global economic pressures.
