Pakistani Rupee rises further against US Dollar
At the onset of the new trading week, the Pakistani Rupee demonstrated further strength against the US Dollar in the interbank market, reaching a trading value of Rs285.90.
Around midday on Monday, the Dollar experienced a decline of 60 paisas in interbank transactions against the Rupee, representing a depreciation of 0.21%. Simultaneously, in the open market, the Pakistani Rupee recorded a slight increase, with selling rates at Rs287.50 and buying rates at Rs284.50.
In the preceding week, the local currency faced a setback of 25 paisas for both buying and selling against the Greenback in the open market, concluding at Rs285.25 for buying and Rs288.25 for selling, as reported by the Exchange Companies Association of Pakistan.
Despite this, the Pakistani rupee exhibited resilience against the American currency, marking a 0.3% appreciation during interbank trading on the preceding Friday. Notably, on the final day of trading in the previous week, the local unit traded at Rs286.55, reflecting an increase of approximately Rs1.83 in the interbank market.