The rupee fell to 291 against the US dollar in the open market
The rupee fell to 291 against the US dollar in the open market—find out what’s driving the drop, its impact on inflation, and what experts predict next.
The Pakistani rupee (PKR) posted losses against the US dollar (USD) on Wednesday but gained further against the British pound (GBP).
On a daily basis (DoD) basis, the interbank rate was at 285/$ for most of the day before closing at 284. Open market rates at several currency counters today were at 287-290. A few sellers quoted the rupee. 291/$ at a few counters in the federal capital today
GBP fell to 385-389 against PKR in the open market. According to the Exchange Companies Association of Pakistan (ECAP), the buying rate stood at 385 while several exchange shops in central cities were selling GBP at rates above Rs. 389
PKR remained bearish throughout the day and closed in the red against the greenback. Meanwhile, it gained against some other major currencies during today's session.
On a fiscal year-to-date basis (FYTD), the PKR has lost 2.14 percent against the US Dollar.
Other currencies
The PKR was green against some of the other major currencies in the interbank market today.
It lost seven paisas against the UAE Dirham (AED) and seven paisas against the Saudi Riyal (SAR).
Meanwhile, it gained 21 paisas against the Canadian Dollar (CAD).
The rupee gained Rs. 1.03 against the Australian Dollar (AUD) in today's interbank currency market
It gained Rs. 1.62 against the Euro (EUR) and Rs. 1.01 against the British Pound (GBP).
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