The Pakistani rupee continues its decline against the US Dollar for the 8th consecutive day. It started the day at an exchange rate of 280 in the interbank market.
Around 11:30 AM, the rupee dipped further, reaching the level of 281 against the US Dollar. Later in the day, between 1:30 PM and 2:30 PM, the interbank rate fell below 282, and it remained relatively stable for the rest of the day. In the open market, exchange rates fluctuated between 280 and 284 throughout the day.
By the end of the trading day, the Pakistani Rupee had depreciated by 0.41 percent, closing at 282.65 against the US Dollar, reflecting a loss of Rs. 1.17 in a single day.
This marks the 8th consecutive day where the rupee has lost value against the US Dollar.
Since September 4, the gap between interbank and open market exchange rates has decreased by Rs. 52. The rates have at times gone as high as 284.
Notably, the rupee has fallen by nearly Rs. 65 since January 2023 and has experienced a significant decrease of over Rs. 112 against the US Dollar since April 2022. In the context of today’s currency market movements, the Pakistani Rupee lost 52 paisas against the US Dollar.
In the interbank market, the PKR also experienced losses against other major currencies 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).
Conversely, it gained 76 paisas against the Euro (EUR) in today’s interbank currency market.
