Pakistani rupee shows remarkable display of strength against the Pakistani rupee, making further gains on the ninth consecutive session in the interbank market.
Data shared by State Bank shows the rupee’s winning streak against the US dollar, and the currency was settled at 283.87 after a surge of Rs0.25.
In previous sessions, PKE recorded back to back increase and settled at 284.12 against the USD.
US Dollar Price in Pakistan
In the open market, the situation remained the same and the local currency continued its appreciation.
The dollar was traded at 285 for selling and 282 for buying purposes, and PKR closed at 284.75 for selling and 281.75 for buying.
USD to PKR
| BID | Rs 281.75 |
|---|---|
| OFFER | Rs 284.75 |
The rupee moves up amid positive sentiment in the money market and now the International Monetary Fund’s executive board is set to meet next month to approve the second tranche of $700 million tranche of bailout funds.
The country of 240 million continue to face acute balance of payment crisis, with its foreign exchange reserves depleted, along with soaring inflation, and people are paying high prices for basic commodities.
PSX sets new record as KSE-100 index runs past 66,000 milestone
