KARACHI – Pakistani rupee makes a comeback, after remaining under pressure against the US dollar in the inter-bank market.
Data shared by the State Bank of Pakistan suggests that local currency moved up by 0.76 percent in the inter-bank market. PKR gained momentum from the early hours and settled at 287.20, with a surge of Rs2.18.
Interbank closing #ExchangeRate for today https://t.co/e9M6aIzWPj#SBPExchangeRate pic.twitter.com/hpFQKlN3E9
— SBP (@StateBank_Pak) August 3, 2023
On Wednesday, Pakistani rupee remained under pressure for the third straight session against the greenback and plunged by 0.64pc to settle at 289.38.
Money market experts claim that pressure would stay on the rupee as import curbs are being removed in light of demands made by the International Monetary Fund (IMF).
Internationally, the US dollar was moved near a month high while oil prices slid further after dropping sharply.
