Pakistani Rupee gains value against the US dollar
The Pakistani Rupee (PKR) opened the week with mixed results against most major currencies but maintained the exchange rate against the US Dollar under Rs. 160. ------------------------------
Today (February 8), the PKR gained 42 paisas to the US Dollar after gaining 19 paisas on Thursday (the last trading day of the previous week), taking the exchange rate below Rs. 160 for the first time since the beginning of the calendar year 2021.
PKR closed at Rs. 159.56 against the USD in the interbank market today, compared to Rs. 159.98 to the USD on Thursday (February 4).
On January 4, 2021 – the first trading day of the year – the PKR had closed at Rs. 159.97 to the USD, which was down from the exchange rate of Rs. 159.83 to the USD on December 31, 2020 – the last trading day of the previous year. Since then, it has been constantly gaining and losing against the USD, but it remained higher than Rs. 160.
The PKR continued its gaining streak from Thursday against the Euro. Today’s gain against the Euro was 6 paisas that come after Thursday’s substantial gain of 90 paisas.
PKR posted gains against the Great British Pound (GBP) for several days in the last week. Today, however, PKR lost Rs. 1.34 to the GBP after gaining Rs. 1.56 to the GBP on Thursday.
PKR has shown improvement against the Australian Dollar, but since Thursday, the trend has been downward. On Thursday, PKR lost six paisas to the AUD, which is compounded today with 17 paisas loss.
The PKR went up by 23 paisas against the Canadian Dollar in the interbank market today after gaining 26 paisas on the previous trading day.