Pakistani Rupee lost 8 paisas against the US Dollar in the interbankcurrency market on Tuesday. This comes after a h19 paisa loss for PKRagainst the greenback on the opening day of the week.
PKR closed at Rs. 160.60 to the USD on Tuesday (January 19) compared to Rs.160.52 on Monday.——————————
Yesterday, due to MLK day, the New York trading was closed, and the banksdid not receive funds in their Nostro accounts (i.e., accounts that a bankholds in a foreign currency in another bank). Today, after the marketoperations closed in Pakistan, PKR showed a valuation of Rs. 160.60 againstthe US Dollar.
Against most other major currencies, PKR has been gaining for most of thecurrent calendar year. While Monday’s tally continued the trend, Tuesdaysaw PKR erode against every major currency in the international currencymarket.
PKR lost 71 paisas to the Euro on Tuesday after gained 61 paisas on Monday.Against GBP, PKR lost 96 paisas today after posting a significantimprovement of Rs. 1.52 on Monday.
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Against the Australian Dollar, PKR deteriorated by 74 paisas on Tuesdayafter a gain of 83 paisas on Monday, and against the Canadian Dollar, PKRlost 59 paisas today, having gained 86 paisas on the opening day of theweek.——————————
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Against both UAE Dirham and Saudi Riyal, PKR has been slowly butconsistently posting losses. Today’s erosion for PKR against both thesecurrencies was 2 paisas, after 4 paisas loss on Monday.
