ISLAMABAD – The Pakistan rupee continue to decline against the US dollar in interbank and open markets despite stern regulation against currency hoarders and smuggler.
Data shared by the State Bank of Pakistan suggest that PKR settled at 282.65, after a plunge of Rs1.18.
The local currency maintained its downward trajectory against the US dollar for the eighth consecutive session.
Interbank closing #ExchangeRate for todayhttps://t.co/hjomOjLAL6#SBPExchangeRate pic.twitter.com/8nMHm9S96m
— SBP (@StateBank_Pak) November 1, 2023
Dollar rate today in Pakistan
In the open market, the Pakistani rupee was quoted at 283 for selling and 280 for buying purposes for customers.
Last week, PKR observed a decline for both buying and selling against the greenback, eventually closing at 278.50.
The recent drop comes after a remarkable 28-day winning streak for the Pakistani currency, which concluded on October 17, 2023.
US dollar hits reverse gear in Pakistan, drops to Rs302 in open market
