The Pakistani rupee experienced a loss versus the US dollar and other major currencies today. It began the day at 280 in the interbank market but was unable to maintain its value.
By 11:30 p.m., it had dropped to the 280-281 level versus the US dollar, having lost around 1.5 rupees. Later in the day, between 1:30 and 2:30 PM, the interbank rate rose slightly to 279, where it stayed for the remainder of the day. Rates in the open market ranged from 277 to 280.
| Time of Day | Rupee Value Against US Dollar |
|---|---|
| 11:30 AM | 280-281 |
| 1:30-2:30 PM | 279 |
| End of Day | 279.12 |
The PKR had fallen by 0.11 percent at the end of the day, finishing at 279.12 following a 32-paisa loss versus the dollar.
The rupee began the week in the negative. Traders noted that the currency market failed to retain its pace from the previous week, owing mostly to continuing political events in the nation.
Since September 4, the difference between interbank and open market rates has shrunk by 60 rupees. Rates have even plummeted to as low as 277, with transient rises to 281 today.
Significantly, the rupee has lost about 62 rupees in value since January 2023, and it has lost more than 109 rupees versus the US dollar since April 2022. According to today’s currency rates, the PKR has lost 32 paisas versus the USD.
| Currency | Paisa Change |
|---|---|
| Saudi Riyal (SAR) | -8 |
| UAE Dirham (AED) | -9 |
| Australian Dollar (AUD) | -20 |
| Euro (EUR) | -81 |
| British Pound (GBP) | -1.92 |