Rupee Posts Losses Against US Dollar, Recovers Big Against British Pound

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The Pakistani rupee (PKR) started September with losses against the US Dollar today after opening trade at 278 in the interbank market.

It remained stable throughout the day but eventually closed in the red against the greenback. However, it posted gains against most of the other major currencies during today’s session.

The interbank rate stayed at 278/$ for most of the day before closing at the same level. Open market rates across multiple currency counters were consistently at the 278 level today. The PKR depreciated by 0.04 percent, closing at 278.64 after losing 10 paisas against the US Dollar.

On a fiscal year-to-date basis, the rupee has so far depreciated by 0.11 percent.

The PKR showed gains against most of the other major currencies in the interbank market today. It gained 21 paisas against the Canadian Dollar (CAD), 35 paisas against the Euro (EUR), 77 paisas against the Australian Dollar (AUD), and Rs. 1.25 against the British Pound (GBP).

Meanwhile, it lost two paisas against the Saudi Riyal (SAR) and two paisas against the UAE Dirham (AED) in today’s interbank currency market.

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