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Monday, December 23, 2024

Home Pakistan Pakistani rupee further advances against US dollar in inter-bank market

Pakistani rupee further advances against US dollar in inter-bank market

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KARACHI – Pakistani currency recovered further losses against the US dollar amid signs of economic revival after a troubling year.

Data shared by State Bank shows that rupee moved up to 281.28 per dollar at close on Monday, in what is said to be its fourth successive climb against the greenback.

The embattled rupee advanced gains in the second week of the first month, appreciating 0.04pc in the inter-bank market.

US Dollar Rate in Pakistan

(Open Market)

Currency	Buying		Selling
US Dollar	280.9	283.65

In the previous session, PKR managed to appreciate 0.16pc or Rs0.46 to settle at 281.40 against the greenback.

Amid the signs of economic revival, the country’s central bank reported a major increase of $464 million in foreign exchange reserves, and the numbers reached $8.2 billion.