Rupee continues upward gains against dollar in interbank
- By Anjum Wahab -
- Oct 11, 2022
KARACHI: The Pakistani rupee continued its rally against the US dollar, extending its gains in the interbank market for the 13th consecutive session, ARY News reported on Tuesday.
According to State Bank of Pakistan (SBP), the local currency closed at Rs217.79 per dollar. This equates to an appreciation of 0.08 per cent from yesterday’s close of Rs217.97.
Interbank closing #ExchangeRate for todayhttps://t.co/EOThPOzeby pic.twitter.com/oWBQaeVij3
— SBP (@StateBank_Pak) October 11, 2022
Meanwhile, the Forex Association of Pakistan (FAP) stated that the banks were selling the greenback at Rs2187.10. In the open market, the dollar was being traded between Rs216 to Rs218.
The rupee has recovered by Rs19.79 or 8.26pc in the last 11 sessions after falling close to an all-time low of Rs239.94 on Sept 22.
A day earlier, the Pakistani rupee gained Rs1.96 to close at Rs217.97 today, according to the State Bank of Pakistan (SBP). This amounts to an appreciation of 0.89 per cent.
Meanwhile, the Forex Association of Pakistan (FAP) stated that the banks were selling the greenback at Rs218.30. In open market, the dollar was being traded between Rs217 to Rs219.
Last week, Prime Minister (PM) Shehbaz Sharif lauded the hard work of Finance Minister Ishaq Dar for a strengthening rupee against the US dollar.
Taking to Twitter, PM Shehbaz Sharif said it is the grace of Allah that the Pakistani rupee was the best-performing currency against the dollar in the world.