Islamabad, Feb 4: The Pakistani rupee (PKR) closed in green against the US Dollar (USD) today after opening trade at 279 in the interbank market. Throughout the day, the interbank rate remained stable, fluctuating between 278 and 280/$, before ultimately closing at 278.95, marking a modest gain of eight paisas, or 0.03 percent, compared to the previous day.
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Despite the PKR’s appreciation against the USD, it experienced losses against most other major currencies. In the open market, exchange rates across various currency counters ranged between 279 and 282 throughout the day.
On a year-to-date basis, the rupee has depreciated by 0.23 percent so far. However, in today’s session, it posted slight gains against some regional currencies. The PKR strengthened by two paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR).
On the other hand, the rupee faced notable losses against other major currencies, including a drop of Rs. 3.28 against the Canadian Dollar (CAD). It also weakened by Rs. 2.97 against the Euro (EUR) and Rs. 3.54 against the British Pound (GBP). The rupee further lost Rs. 1.73 against the Australian Dollar (AUD) in the interbank market today. The overall trend reflects a mixed performance for the PKR, with some gains against regional currencies but ongoing weakness against the stronger Western currencies.