US dollar sheds Rs1.96 against rupee in interbank
- By Sheeraz Soomro -
- Oct 19, 2023
The Pakistani rupee bounced back against the US dollar in the interbank market on Thursday.
The dollar which gained Rs1 against the PKR in the interbank on Wednesday, depreciated by Rs1.96 on the early trading on Thursday morning.
The Pakistani rupee gained Rs1.96 against the US dollar and currently trading at Rs278.30 in the interbank market, the forex dealers said.
The banks are selling the greenback to the importers at Rs278.80, while the US currency also lost Rs1 against the local currency in the open market.
On Wednesday, USD gained one rupee in interbank trading to reach Rs278.
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.