KARACHI – Pakistani rupee kickstarted its appreciation run against the US dollar, moving down marginally inter-bank market the first trading session of 2024.
Data shared by the central bank shows 281.89 after a drop of Rs0.03. In the year 2023, the rupee witnessed a depreciation of 20pc to settle at 281.86.
The drop in rupee’s value moved down amid a plethora of economic woes including soaring external financing gap, global financial issues, and political crisis.
In the last 23 years, Pakistani rupee moved down in 19 years, and last year was named as fourth-worst.
US dollar Rate in Pakistan
|
Currency
|
Buying
|
Selling
|
| US Dollar |
280.9
|
283.65
|
