The final trading day of the week ended with the same trend as the rest ofthe week with mixed results for the Pakistan Rupee. Against the US Dollar,however, PKR kept its ground.
According to the financial analytics platform Capital Stake, “The PakistaniRupee remained stable against the USD during the week. MTD [month to date]position showed an addition of 0.42 percent and YTD [ year to date] 3.38percent”.
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Friday (December 18), like Wednesday and Thursday, saw an improvement forPKR against the US Dollar in the interbank market, but today’s improvementwas minimal with a gain of only 3 paisas.
PKR closed at Rs. 160.08 to the USD today as compared to Rs. 160.11yesterday. As compared to last Friday, (December 11), PKR in the week todate has a gain of 0.03 percent or 4.9 paisas.
Against almost all other major currencies, however, PKR posteddeterioration, which is also how the rest of the week has seen PKR’smovement. PKR lost 34 paisas to the Euro, piling up on yesterday’s loss of14 paisas and the day before’s loss of 84 paisas. Against the AustralianDollar, PKR posted a loss of 30 paisas today, adding on 55 paisas and 77paisas loss earlier in the week.
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Against GBP however, Friday saw improvement after steep losses earlier inthe week. On Friday, PKR gained 61 pasias to the GBP after losing 66 paisasyesterday and Rs. 3.06 the day before.
Against UAE Dirham and Saudi Riyal, PKR has posted moderate improvements.However, today’s gain was almost negligible with the improvement of lessthan a paisa. The last two days saw an appreciation of 5 paisas and 7paisas, respectively, against both currencies on both days.
Last week PKR posted notable gains against the GBP and fluctuated againstthe USD. This week, while the exchange rate is less volatile against theUSD, PKR seemed to be losing strongly to GBP. Friday seems to have reversedthat trend a little bit.
