Wednesday, November 30, 2022

Rupee strengthens by Rs1.18 against dollar in interbank

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KARACHI: Pakistani rupee continued to recover for the sixth consecutive session, gaining Rs1.18 against the US dollar in the interbank market, ARY News reported on Friday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs228.85 after appreciating 0.52 percent from yesterday’s close of Rs229.63.

Meanwhile, the greenback was being traded at Rs227 to Rs229 in the open market, the Forex Association of Pakistan (FAP) added. The rupee has been recovering for the sixth consecutive session after falling close to an all-time low of Rs239.94 on Sept 22.

A day earlier, the Pakistani rupee continued its upward trend, gaining Rs2.45 against US dollar in the interbank market. According to the State Bank of Pakistan (SBP), the local currency closed at Rs229.95 per dollar after appreciating 1.08 percent.

On Wednesday, newly sworn-in Finance Minister Ishaq Dar had said strengthening of rupee value would be his top priority and no one would be allowed to do manipulation in the exchange rate.

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