Tuesday, June 28, 2022

Rupee continues to surge against USD


The US dollar continued to lose its value against the Pakistani rupee on Thursday and slumped to Rs175.39.

According to the State Bank of Pakistan (SBP), the dollar depreciated 28 paisas to Rs175.39 in the interbank market. The greenback suffered a decline of 0.16% on Thursday after it had already lost by 0.06% on Wednesday.

Experts say that the positive market trend is a result of the resumption of the International Monetary Fund (IMF) loan program for Pakistan. The IMF had approved the release of a $1 billion loan to Pakistan in January 2022.

In the open market, the greenback was sold at 177.86.

Here are the open market rates of major currencies on February 17, 2022.

Currency Buying Selling
USD 176.10 177.86
Saudi Riyal 46.93 47.40
UAE Dirham 47.94 48.42
UK Pound 239.89 242.28
Euro 200.03 202.03
Japanese Yen 1.53 1.55
AUD 126.85 128.11
CAD 138.56 139.94
Chinese Yuan 27.78 28.06



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