The US dollar (USD) slide continued against the Pakistani rupee (PKR) in the interbank trading on Friday, SBP said.
Pakistani rupee (PKR) gained Rs1.02 against the US dollar in the interbank trading and closed at Rs291.76 as compared to the previous day’s rate, Rs292.78.
The USD recorded a drop of Rs14 in the interbank in nine days and Rs21 in the open market.
It is pertinent to mention here that the US Dollar (USD) index hit its highest level in six months on September 14, as economic data was mostly stronger than anticipated and the European Central Bank (ECB) signaled it was finished with its rate hike cycle.
U.S. retail sales increased by 0.6% in August, more than the expected 0.2% rise, boosted by higher gasoline prices while weekly initial jobless claims rose to 220,000 but were below the 225,000 forecast.
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