PKR continues upward trajectory against USD
- By Anjum Wahab -
- Jul 06, 2023
KARACHI: The Pakistani rupee continued upward trajectory against the US dollar in the interbank market on Thursday following the agreement with the International Monetary Fund (IMF).
According to the State Bank of Pakistan (SBP), the local currency had appreciated by Rs0.37 against the greenback to close at Rs277.04 in the interbank market.
In the open market, the US dollar was being traded at Rs285.99. The Pakistani rupee had gained Rs10.58 on Monday.
Interbank closing #ExchangeRate for today https://t.co/s4Ua3qFDzO#SBPExchangeRate pic.twitter.com/o2noX7ErMp
— SBP (@StateBank_Pak) July 6, 2023
Meanwhile, the Exchange Companies Association of Pakistan (ECAP) President Malik Bostan said that the price of the dollar will decrease further in the coming days.
Bostan predicted that the market may stabilise around the 272-276 range.