For the First Time in Weeks, Pakistani Rupee Remains Stable for 3 Days in a Row - Android

The Pakistani Rupee has stood firm against the US Dollar with slight movements up and down all three days of… Read More

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The Pakistani Rupee has stood firm against the US Dollar with slight movements up and down all three days of the current week. PKR improved 11 paisas against the USD in the interbank currency market today, after a marginal loss of approximately 1 paisa yesterday and 5 paisas the day before.

The market opened with high demand for foreign currency for import and corporate payments during this week as the market had witnessed dollar supply in the shape of workers’ remittances and export receipts.

PKR closed with a gain of 11 paisas on Wednesday (December 30), closing at Rs. 160.28 to the USD as compared to Rs. 160.39 on Tuesday, according to the financial analytics platform, Capital Stake.

Against other major currencies, PKR has consistently posted losses, but that trend was interrupted yesterday as PKR gained against the GBP and Australian Dollar. Today, the gain for PKR came against the Euro and Canadian Dollar.

Against GBP, PKR lost 9 paisas after yesterday’s gain of 69 paisas, which came after a loss of 9 paisas on Monday. The past week saw notable volatility with up and downshifts in the range of Rs. 2-3 or even higher.

Against the Australian Dollar, PKR lost 57 paisas today after improving 11 paisas yesterday and losing 35 paisas on Monday.

Against the Canadian Dollar, PKR’s movement was of gentle growth today with a gain of 9 paisas, after a loss of 20 paisas yesterday piling over the loss of 24 paisas the day before.

While against the Euro, PKR registered a gain of 10 paisas after losing 34 paisas yesterday and 55 paisas on Monday.

Against the UAE Dirham and the Saudi Riyal, PKR lost 3 paisas and 2 paisas, respectively, in the currency market on Wednesday.

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