US dollar gains one rupee against PKR in interbank trading

KARACHI: The US dollar gained ground against Pakistani rupee in interbank trading on Wednesday morning after prolonged winning run of the Pakistani currency, ARY News reported.

USD gained one rupee in interbank trading to reach Rs278, foreign exchange dealers said.

The US currency value also goes upward by one rupee in the open market and trading at Rs278 from 277 rupees.

The greenback was being sold to importers at Rs277.50 by the banks in the early morning, currency dealers said. The dollar in early trading dropped by three paisa against PKR but gained one rupee later in the morning.

Last week, the US dollar shed Rs5.07 against Pakistani rupee in interbank trading.

USD dropped to Rs277.62 in the interbank trading from 282.69 rupees the week ended on Friday (October 13).

Pakistani rupee’s value started moving upward in the first week of September after a crackdown by the state agencies against illegal currency business and US dollars smuggling.