The Pakistani rupee (PKR) fell again today against the US dollar (USD) after a short recovery. The interbank market opened with the rupee at 280 per dollar, but by the end of the trading session, it had dropped to 278.
Throughout the day, the exchange rate remained between 278-280 per dollar. In the open market, different exchange counters showed rates between 279-282. Overall, the rupee had a bearish trend and ended in the red against the US dollar.
The PKR lost 10 paisas today, marking a 0.04 percent decline. By the end of the trading session, it was valued at 278.9722 per USD.
On a fiscal year-to-date basis, the rupee has weakened by 0.24 percent against the US dollar.
The Pakistani currency also saw declines against several other major currencies today. It dropped by two paisas against both the UAE Dirham (AED) and the Saudi Riyal (SAR).
Meanwhile, the rupee remained stable against the Canadian dollar (CAD), holding steady at 193.4.
The rupee also lost 17 paisas against the Euro (EUR) and eight paisas against the British Pound (GBP).
However, there was some positive movement against the Australian Dollar (AUD), where the PKR gained 32 paisas in the interbank market.
Currency experts believe that the rupee’s depreciation is due to ongoing economic concerns, market demand for the US dollar, and global financial conditions. Traders and investors will be watching closely to see how the currency performs in the coming days.
For now, the Pakistani rupee remains under pressure, with fluctuations expected as market forces continue to play a role in determining its value.
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