ISLAMABAD: The improvement continued in the value of Pakistani rupee against the greenback for the 17th consecutive session as on Thursday, the local currency gained Rs1.01 against the US dollar to settle at Rs287.74 in the interbank, as reported by State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/K9pF3QxMS3#SBPExchangeRate pic.twitter.com/gXBbpXqugl
— SBP (@StateBank_Pak) September 28, 2023
Last day, the local currency got an improvement of Rs1.01 in the inter-bank market and was closed at 288.75.
The local currency has recorded an increase of over Rs19 during the last three weeks in the interbank as on September 5, the Pakistan currency reached a record low of Rs307 against the dollar in the interbank.
Pak Rupee in Open Market
Like the Interbank, the Pakistani rupee also maintained its upward trend against the US dollar in the open-market as on Thursday it was traded in the range of it brought down Rs 288 and Rs 285 for selling and buying respectively.
Last day the Pak Rupee was traded in the open market at the level of Rs290 for selling and Rs287 for buying. The last couple of weeks have witnessed a continuous decrease in the gap between the open market and the interbank according to the prescribed limit set by the International Monetary Fund (IMF) in the last standby agreement.
Meanwhile, like the interbank, the local currency received the same treatment of appreciation in the open market, and the rupee appreciated over Rs40 in the open market during these days and was traded over Rs330 three weeks before against the dollar.
