Islamabad, Dec 23: The Pakistani Rupee (PKR) began the final week of December 2024 on a bearish note, closing weaker against the US Dollar (USD) in the interbank market. Opening the day at 279, the PKR traded within the 278-279/$ range before settling at 278.56, reflecting a 0.05% depreciation or a loss of 14 paisas against the greenback.
In the open market, exchange rates hovered between 278-281/$ across various currency counters. On a fiscal year-to-date basis, the rupee’s overall depreciation stands at 0.08%. In today’s interbank trading, the PKR faced declines against all major currencies except the Euro (EUR) and British Pound (GBP). It lost five paisas each against the Saudi Riyal (SAR) and UAE Dirham (AED) and fell by 10 paisas against the Canadian Dollar (CAD). The Australian Dollar (AUD) also strengthened against the PKR, which shed 28 paisas.
Conversely, the PKR showed slight resilience, gaining Rs. 1.12 against the Euro and Rs. 1.82 against the British Pound.The rupee’s performance signals continued pressure from fluctuating market conditions, as currency volatility persists amidst broader economic challenges.
