Pakistani Rupee (PKR) declined on Monday, as the currency finished lower against the US Dollar (USD) and lost to a number of major currencies, such as the British Pound (GBP).
The interbank rate remained around Rs. 285 per USD till last minutes of the trading session to finally close at Rs. 284.97, a mere depreciation of 0.01%, or one paisa, over the previous day. The dollar was sold in the open market between Rs. 287 and Rs. 290 with sellers in some areas of Islamabad giving up to Rs. 291.
The British Pound continued its upward trend, climbing to Rs. 385–392.5 in the open market. According to the Exchange Companies Association of Pakistan (ECAP), GBP buying was recorded at Rs. 385, while several exchange counters in major cities offered it for sale at up to Rs. 392.5.
Overall, the rupee remained bearish throughout the day, showing weakness not just against the greenback but also against other major currencies.
In interbank trading:
- PKR didn’t change against the UAE Dirham (AED) and the Saudi Riyal (SAR).
- It declined by Rs. 1.53 against the Euro (EUR) and 90 paisas against the British Pound (GBP).
- The rupee was up by 4 paisas against the Australian Dollar (AUD).
- It fell 60 paisas against the Canadian Dollar (CAD).
As of the current fiscal year-to-date (FYTD), the PKR has depreciated by 2.15% against the USD.
