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Pakistani Rupee PKR Regain 34 Paisas Against US Dollar

byNews Desk
October 9, 2021
in Business, Economy
Reading Time: 2 mins read
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Pakistani rupee PKR to US Dollar
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The Pakistani Rupee PKR recouped 34 paisas against the United States (US) dollar in the inter-bank currency market on the last trading day of the week.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs170.53 against the greenback, registering appreciation of 34 paisas over the previous close of PKR170.87.

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The US dollar has appreciated PKR18 against the Pakistani rupee in the interbank market over the past five months as it stood at PKR152.28 as of May 7, 2021.

Interbank closing #ExchangeRate for today: https://t.co/Jv9I9Uh9gr pic.twitter.com/qbl36wy3Ts

— SBP (@StateBank_Pak) October 8, 2021

On Wednesday, the State Bank of Pakistan (SBP) introduced regulatory measures to enhance transparency in the foreign currency transactions by exchange companies and to curb undesirable outflow of cash foreign currency.

According to guidelines shared by the SBP, persons travelling to Afghanistan will be allowed to carry only US$1,000 per person per visit with a maximum annual limit of US$6,000.

Exchange companies will be required to conduct biometric verification for all foreign currency sale transactions equivalent to US$500 and above and outward remittances and it would be applicable with effect from October 22.

Tags: Pakistani rupeePKRTrading WeekUs Dollar
News Desk

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A source of economic, political, business, finance, health and sports updates.

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