The Pakistani rupee fell 8th day in a row against the US Dollar today after opening trade at 280 in the interbank market.
At 11:30 PM, it was bearish, treading the 281 level against the greenback.
Later, the interbank rate dropped below 282 level between 1:30 PM and 2:30 PM before anchoring trends for the remainder of the day. Open market rates across multiple currency counters stood in the 280-284 range today.
At close, the PKR depreciated by 0.41 percent to close at 282.65 after losing Rs. 1.17 against the dollar today.
The rupee closed in the red for the 8th consecutive day today.
After today’s drop, the gap between interbank and open market rates is down by Rs. 52 since 4 September. The rates have spiked as low as 284.
Pertinently, the rupee is down nearly Rs. 65 since January 2023. Since April 2022, it is down over Rs. 112 against the greenback. As per exchange rate movements witnessed today, the PKR has lost 52 paisas against the dollar.
The PKR was red against most of the other major currencies in the interbank market today. It lost seven paisas against the Canadian Dollar (CAD), 13 paisas against the Australian Dollar (AUD), 31 paisas against the Saudi Riyal (SAR), 32 paisas against the UAE Dirham (AED), and Rs. 1.11 against the British Pound (GBP)
Source: Pro Pakistani
