Pakistani Rupee stabilises against the US dollar in interbank market

Pakistani Rupee stabilises against the US dollar in interbank market

Repeating the trend from last week, the Pakistani Rupee (PKR) opened the week with an almost blanket loss against most major currencies in the international currency market, turning the tide on Tuesday with blanket gains. Wednesday saw mixed results for PKR. ------------------------------


Last week, PKR had lost against several major currencies in the interbank market on the opening day of the week before posting recovery in the following days. This week as well, PKR seems to be following the same trajectory.

Today (February 3), PKR lost 2 paisas to the US Dollar after gaining 6 paisas yesterday and losing 12 paisas on Monday. PKR closed at Rs. 160.18 against the USD compared to Rs. 160.15 on Tuesday (February 2), which was an improvement upon Rs. 160.22 to the USD on Monday.

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Against the Euro, PKR continued its gaining streak from yesterday. Today’s gain for PKR against Euro was 59 paisas, adding to yesterday’s gain of 60 paisas, which came as a sharp reversal from Monday’s loss of 16 paisas.

Against GBP, PKR posted gains for two days straight, by improving 41 paisas today after a 65 paisas gain on Tuesday. This came after deteriorating by 82 paisas on Monday.

The only improvement for PKR on Monday was against the AUD, and PKR had continued that streak the third day of the week as well. Today PKR posted gains of 12 paisas against the AUD, adding to yesterday’s improvement of 24 paisas and Monday’s gain of 11 paisas.