KARACHI – Pakistani rupee advanced its positive trajectory in recent times, moving up 0.37 percent in the inter-bank market on Wednesday.
In the 20th consecutive successive session in the interbank, the rupee settled at 284.68 after an increase of Rs1.04 in the inter-bank market.
In the open market, PKR continued to rally against the USD and the gap between the inter-bank market and open market further narrowed in line with the demand of the International Monetary Fund (IMF).
In the open market, PKR was quoted at 285 for selling and 282 for buying purposes for customers.
Pakistani rupee has gained significantly in the open market in a week due to the government’s action against the smuggling of the currency in big cities. The sale of dollars by exporters and the return of remittances to the interbank market, spurred by the narrowing gap between the official banking market and the kerb market, helped boost the rupee’s strength.
