Pakistani Rupee rises against major currencies in interbank market

Pakistani Rupee (PKR) has been volatile since the beginning of the currentweek. On Monday, PKR lost against several major currencies in the interbankmarket, posted blanket gains against all major currencies on Tuesday, andshowed mixed results on Wednesday. Today, however, was another good day forthe Rupee, with improvement seen against all major currencies.

Against the US Dollar, however, PKR seems to be holding on to its position.PKR gained 25 paisas against the US Dollar (USD) today, after posting again of 10 paisas yesterday and gaining 15 paisas the day before, whichcame after a loss of 4 paisas on the opening day of the week.

PKR closed at Rs. 160.28 to the USD on Thursday (28 January) compared toRs. 160.53 on Wednesday, which was an improvement upon the exchange rate ofRs. 160.63 on Tuesday. This was an improvement upon Rs. 160.79 on Monday.——————————

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Against other major currencies, PKR posted notable gains on Monday butreversed many of those gains on Wednesday. Today, PKR managed to flingtowards improvement once again, with blanket gains against all majorcurrencies in the international market.

The biggest fluctuation for PKR came against the Australian Dollar todaywith an improvement of Rs. 2.03. Yesterday PKR had lost 61 paisas to theAUD after putting gains of 86 paisas on Tuesday and losing 5 paisas onMonday. This is also notable because PKR does not usually fluctuate againstthe AUD by this degree.

The second notable improvement for PKR was against the GBP, where PKRposted gains of Rs. 1.73. Yesterday, PKR’s highest loss was against GBPwith Rs. 1.5 deterioration. On Tuesday, PKR had improved by Rs. 1.42 to theGBP after losing 44 paisas on Monday.

Against the Euro, PKR posted gains of almost a rupee (98 paisas) onThursday after a loss of 6 paisas yesterday. Tuesday had seen a notablegain of 85 paisas yesterday for PKR against Euro after a nominal gain of 2paisas on Monday.

Against the Canadian Dollar, PKR improved by Rs. 1.3 today after losing 14paisas yesterday. On Tuesday, PKR improved by 63 paisas against CAD, addingto Monday’s gain of 12 paisas.