KARACHI – Pakistani rupee continued its gaining streak against the US dollar in interbank and open markets on Thursday.
During intraday trading session, the foreign currency has depreciated by Rs1.12 as it is being traded at Rs297.70 in the interbank market.
In open market, the dollar has dropped to Rs298 witnessing a decline of Rs3 during intraday trading.
A day earlier, 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
