KARACHI – The Pakistani rupee continued its upward trajectory against the US dollar, appreciating for the eleventh successive session to settle at 293.88 in the inter-bank market.
Data shared by the State Bank of Pakistan shows that the local currency appreciated 0.35perent in the inter-bank market, and settled at 293.88 with a hike of over Rs1 on Wednesday.
Interbank closing #ExchangeRate for today https://t.co/3CQrkLVlqE#SBPExchangeRate pic.twitter.com/Pav6mWZVP0
— SBP (@StateBank_Pak) September 20, 2023
In the previous session, the local currency strengthened nearly 5percent after touching record low of 307 in the inter-bank market.
In recent updates, State Bank of Pakistan (SBP) rolled out structural reforms in Exchange Companies’ (ECs) sector whereas FIA and other law enforcement officials initiated crackdown on smuggling, lending support to the currency markets.
In the open market, PKR was being quoted at 296, as demand for greenback moved down amid crackdown.
Currency exchange rates in Pakistan today – September 20, 2023
