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Saturday, November 23, 2024

Home Business Pakistani rupee appreciates further against US dollar in interbank market

Pakistani rupee appreciates further against US dollar in interbank market

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KARACHI – Pakistani rupee gained further ground on Friday against the US dollar in the interbank market as the crisis hit Pakistan slowly recovers from currency crisis amid hopes of a revival.

Data shared by State Bank shows that the PKR closed at 286.97 after gaining 0.23, in the interbank market.

The local unit strengthened around 0.08 percent against the greenback in the inter-bank market.

Interbank closing #ExchangeRate for today https://t.co/osmfUb5Dbx #SBPExchangeRate pic.twitter.com/KLI059pYGZ

— SBP (@StateBank_Pak) August 4, 2023

Rupee moved up for the second day as earlier this week PKR gained an appreciated 0.76 percent to settle at 287.20.

At the global level, the US dollar plunged from a four-week high against peers as stockholders looked ahead for development that could maneuverer the path for US interest rates.