The Pakistani Rupee (PKR) showed slight improvements against the US Dollar(USD) on the first two days of the current week. On Wednesday, it posted amoderate loss of eight paisas against the greenback and recovered by almost4 paisas yesterday. The end of the week brought downward movement for PKRagain, where it lost 5 paisas to the USD.
It closed at Rs. 157.13 against the USD on Friday (12 March), down 5 paisascompared to Thursday’s closing of Rs. 157.08 against the USD.——————————
——————————
The PKR had consistently improved against the USD for over two weeks andhad been appreciating periodically before that. This week, however, PKR hasseen fluctuations against the USD, although it managed to remain below Rs.158 exchange rate.
PKR’s recent appreciation may be attributed to the soft importers’ dollardemand, the inflows from remittances, the Roshan Digital Accounts, andexport proceeds.
The PKR had posted blanket gains against all the major currencies on Mondayexcept against the Canadian Dollar (CAD). However, since then, it has seena mixed bag of results throughout the week in the interbank currency market.——————————
——————————
Read Top Stories
On Thursday, the PKR had gone down by 97 paisas against the Euro. However,today, it posted an improvement of 37 paisas.
It also went down by 76 paisas against the Pound Sterling yesterday. Today,PKR posted a negligible gain of less than a paisa against the GBP.
The PKR’s loss against the Australian Dollar (AUD) yesterday clocked in atRs. 1.13. Today brought an improvement of 44 paisas for PKR against AUD.
The PKR had gone down by 63 paisas against the Canadian Dollar (CAD) andrepeated the movement with a loss of 25 paisas today.
Yesterday, PKR posted a meager one paisa improvement against the UAE Dirhamand less than a paisa improvement against Saudi Riyal. Today, it lost 1paisa each to both the currencies in the interbank market.
