ISLAMABAD: The Pakistani rupee registered a minimal appreciation against the American dollar with an increase of Rs0.37 (0.13%) in the inter-bank market on Thursday to settle at RS277.04 against Rs277.41 last day.
The local currencies got a strength of over Rs 10 in the interbank on Monday and Tuesday, followed by a decline of 0.71% on Wednesday. On the last day, when the rupee turned back into the red zone, social media users called the first two-day rise a bubble burst.
However, the investors are still optimistic to observe some more improvement, particularly in the context of the Executive Board meeting of the IMF over the loan to Pakistan scheduled for July 12.
Meanwhile, despite having higher strength globally by the US dollar on Thursday, the local currency remained in the green zone against the greenback.
Pakistani Rupee Against Other Currencies in Open Market
Like interbank, the local currency gained Rs1.00 against the greenback both for buying and selling and settled at Rs277.00 and Rs280.00, respectively.
Euro witnessed a slight gain against the rupee and settled at 298.50 and 302.00 for buying and selling, respectively.
For UAE Dirham and Saudi Riyal, the local currency remained unchanged for buying and selling. UAE Dirham was settled at 75.00 and 75.70 and Saudi Riyal was closed at 73.00 and 73.70, respectively.
