ISLAMABAD: The Pakistani rupee (PKR) registered a second consecutive day of losses against the US dollar (USD) in the interbank market today, closing at Rs277.93 after trading opened at Rs278.
PKR continued to come under pressure against the dollar during the today session, but showed mixed performance against other major currencies.
The interbank session opened with a slow trading session; however, the closing session remained stable around Rs278 and closed marginally lower by 0.02 per cent at Rs277.92. In open markets, the dollar continued trading between Rs279 and Rs281 at various exchange counters.
Pakistani rupee gains 0.15 per cent on a fiscal year-to-date basis and suggests a greater trend of stability amid volatility. It has shown strength also against other key currencies, even though it remains weak against the dollar.
It gained 36 paisas against the Canadian Dollar (CAD), Rs2.25 against the British Pound (GBP), and 77 paisas against the Australian Dollar (AUD). In addition, the PKR rose by Rs1.56 against the Euro (EUR).
Minor losses were recorded against the Saudi Riyal (SAR) and UAE Dirham (AED), where the rupee shed one paisa each.
This volatility in the PKR’s performance against global currencies reflects ongoing economic challenges and external pressures affecting Pakistan’s forex markets.
Separately, The price of gold in Pakistan on Tuesday dropped to Rs270,500 per tola in Pakistan, on the second trading day of the week.
According to data issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-Karat gold fell by Rs7,000 per tola.
