PKR continues recovery as US dollar dips below 280 mark
- By Web Desk -
- Oct 11, 2023
KARACHI: The Pakistani rupee continued its gains in the interbank market against the US dollar, ARY News reported on Wednesday quoting SBP.
According to the central bank, the PKR gained another Rs1 against the greenback in the interbank market to close at Rs279.51.
The US dollar closed at Rs280.51 the other day. The greenback closed below Rs280 for the first time since July.
Amid a crackdown against dollar smuggling the US currency shed 5.50 rupee in interbank trading last week.
The greenback was closed at 282.69 rupee in a week. It lost 5.50 rupees in interbank trading while the greenback was closed at 287.74 rupee in previous week.
In the open market US dollar dropped by 6.50 rupees to close at 281.50 from 288 rupees.
The US currency consistently going down against Pakistan rupee in open market for last few weeks since beginning of September.
Other foreign currencies also shedding their value in currency market, along the US dollar. In a week Euro dropped by 8 rupees from 306 to 298 Pakistani rupees.