Business
Pakistani Rupee Stable Against US Dollar Amid IMF News
The Pakistani rupee remained stable against the US Dollar in the interbank market today, opening and closing at 278.
However, it depreciated against most other major currencies, including the UAE Dirham, Saudi Riyal, Australian Dollar, and British Pound.
Despite the stability against the US Dollar, the rupee lost one paisa, closing at 278.39. On a fiscal year-to-date basis, the rupee has appreciated by 2.68 percent.
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However, since January 2023, it has depreciated by nearly Rs. 51.32 against the US Dollar, and by Rs. 95.32 since April 2022.
In other currency markets, the PKR lost 28 paisas against the Australian Dollar and 30 paisas against the British Pound.
However, it gained 23 paisas against the Canadian Dollar and 49 paisas against the Euro.
The stability of the rupee against the US Dollar is a positive sign, but its depreciation against other major currencies is a concern.
The exchange rate fluctuations can impact trade and investment, and the government and economic managers need to keep a close eye on the situation.
