PKR falls for third consecutive day against USD

The Pakistani Rupee (PKR) depreciates for the third consecutive day against the US Dollar (USD) in the interbank market, opening at 278 on Wednesday and closing at 277.89.

The PKR showed a tiny drop of 0.02 per cent to the greenback, but it was firm enough against the other major currencies.

PKR in interbank and open markets

The rupee moved for the whole day on a slightly bearish track against the dollar, finishing down five paisas. In the open market, USD/PKR rates moved between 279-281, indicating the current pressure on the rupee in the dollar trade.

Gains against other major currencies

Although the PKR has dropped against the USD, it has gained a lot against the other currencies. It gained 23 paisas against the Canadian Dollar (CAD), Rs2.01 against the British Pound (GBP), 99 paisas against the Australian Dollar (AUD), and Rs3.42 against the Euro (EUR) in the interbank market.

The rupee has strengthened by 0.16 percent from the fiscal year-to-date data, representing a mixed pattern of performance due to market developments.

Minor losses against regional currencies

It not only appreciated against various global currencies but also marginally weakened against the SAR and AED, losing one paisa each.