On Tuesday morning, the US dollar (USD) experienced a decline of 1.45Pakistani rupees (PKR) in the interbank market, with its trading ratesettling at Rs294.50.
In interbank trading on Monday, the Pakistani rupee (PKR) had strengthenedby Rs0.90 against the US dollar, closing at Rs295.95.
Forex dealers reported that the greenback was being traded at Rs297 in theopen market, while banks were offering it to importers at Rs296.45.
The interbank market had seen the US dollar drop below Rs300 the previousweek, as the Pakistani rupee continued its upward trend, according to forexdealers.
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In August, the Pakistani rupee (PKR) had been consistently losing value,with open market buying and selling rates for the dollar at Rs322 andRs325, respectively.
It’s worth noting that on September 14, the US Dollar (USD) index reachedits highest level in six months, driven by stronger-than-expected economicdata and signals from the European Central Bank (ECB) indicating the end ofits rate hike cycle
