The Pakistani Rupee recovered from yesterday’s declines, maintaining a stable position in the interbank market as it opened trading at 278 against the US Dollar.
Throughout the day, the Rupee remained consistently at this level and eventually closed with a modest appreciation. In particular, it rose by 12 paisas, ending the day at an exchange rate of 278.11, marking a 0.04 percent increase.
Since the beginning of the fiscal year, the Rupee has seen an appreciation of 2.83 percent. However, it has experienced a significant depreciation of Rs. 51.05 since January 2023 and Rs. 95.05 since April 2022.
In today’s trading, the Rupee also strengthened against other major currencies in the interbank market. It improved by three paisas against both the UAE Dirham and the Saudi Riyal, by 32 paisas against the Euro, by 90 paisas against the Australian Dollar, and by Rs. 1.12 against the British Pound.
Additionally, the Rupee gained 17 paisas against the Canadian Dollar in today’s interbank currency exchange activities.