On Wednesday (Today) the US dollar made some gains against the Pakistani rupee in both interbank and open market trading. According to foreign exchange dealers, the US dollar increased by one rupee in interbank trading and is now at Rs278.
In the open market, it also went up by one rupee to reach Rs278 from the previous rate of 277 rupees.
Early in the morning, banks were selling the dollar to importers at Rs277.50. However, there was a slight drop of three paise against the Pakistani rupee in early trading, but later in the morning, it gained one rupee in value.
Notably, in the previous week, the US dollar had experienced a significant decline, shedding Rs5.07 against the Pakistani rupee in interbank trading. It went from Rs282.69 to Rs277.62 by the end of the week, which concluded on Friday, October 13.
The recent improvement in the value of the Pakistani rupee began in the first week of September. This positive trend followed actions taken by state agencies to crack down on illegal currency businesses and smuggling of US dollars.
