LAHORE: *Pakistani Rupee bounces back strongly against US dollar.*
The Pakistani rupee (PKR) has regained Rs1.42 in its value against thegreenback, bouncing back from State Bank of Pakistan’s (SBP) mid rate onFriday of Rs150.90 to Rs149.53 in the interbank market, reverting down fromthe Rs150 barrier, here on Monday.
During the last week, the rupee had hit its record low against the USDollar (USD) to reach Rs154 in the open market and Rs153.5 in the interbankmarket on Tuesday. Since Tuesday, this is the fourth consecutive sessionwhere the rupee has registered gains against the dollar, gaining an overallRs3.95 against the dollar in an effort to nab the dollar hike and furtherdevaluation.
According to data from *Mettis Global,*“today’s interbank session observedthe Pakistani rupee slightly stronger at open as it was quoted at150.75/151.25 per US Dollar compared to previous session’s closing quote ofPKR 150.92 per USD.”
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Currently, the rupee is being quoted at 149.50/150.25 per US dollar whichmarks an appreciation of Rs1.42 against its closing rate on Friday.
