USD: US dollar slide continues against PKR

The US dollar (USD) slide continued against the Pakistani rupee (PKR) as it closed at Rs297.96 in the interbank trading, ARY News reported on Thursday.

Pakistani rupee (PKR) gained Rs0.86 against the US dollar in the interbank trading and closed at Rs297.97 as compared to the previous day’s rate, Rs298.82, whereas, the banks traded the greenback to importers at Rs298.46.

The USD recorded a drop of Rs9.14 in the interbank in nine days and Rs21 in the open market.

Interbank closing #ExchangeRate for todayhttps://t.co/vzWPNE83s0#SBPExchangeRate pic.twitter.com/jNNfdlVkfv

— SBP (@StateBank_Pak) September 14, 2023

According to the forex dealers, the greenback is being traded at Rs298 after a reduction of Rs3 in the open market.

Related: USD to PKR: US Dollar drops below Rs300

Yesterday, the Pakistani rupee (PKR) continued to post gains against the greenback (USD) on Wednesday and closed at Rs298.82.

Pakistani Rupee gained Rs1.06 against the US dollar in the interbank trading and closed at Rs298.82 against the previous day’s closing of Rs299.88.

However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs297 and Rs300 respectively.

Analysts said that the dollar price was reduced after ongoing crackdowns across the country to curb currency smuggling.