KARACHI – The Pakistani rupee continues to make gains against the US dollar as the greenback slipped as federal authorities took strict action against hoarders and dealers involved in hundi-hawala.
Amid the nationwide crackdown, the local currency advanced momentum against the greenback, moving up for the sixth successive session, and settled at 298.82 on Wednesday, data shared by State Bank announced.
During the intra-day trading, PKR gained Rs1.07 which equals 0.36 percent. This is the sixth continuous session when the rupee continued a positive trajectory.
Interbank closing #ExchangeRate for today https://t.co/MfoTzkTVkZ#SBPExchangeRate pic.twitter.com/pSllzOxdht
— SBP (@StateBank_Pak) September 13, 2023
Following the dissolution of PDM alliance government last month, the rupee fell with a thud and dropped to 307, however, the new policy to control the rupee worked and the currency has been on an appreciation run since the government started widespread crackdown against hoarders and smugglers.
The local currency however faced marginal losses against US dollar on Wednesday. PKR was being quoted at 301 for selling and 298 for buying purposes for customers in the open market, moving down from previous days.
Currency exchange rates in Pakistan today – September 13, 2023
