PKR’s upward march continues with Rs1.84 gain in interbank

Tuesday's early interbank trade saw the PKR increase by Rs1.84 against the dollar, the ninth session in a row that it has done so.

The Forex Association of Pakistan reported that at 9:42 am local time, the exchange rate was Rs225.45 to $1. This represents a rise of 0.81 percent from the close of Rs227.29 yesterday.

In the previous seven sessions, the PKR gained Rs12.42, or 5.35 percent, against the US dollar.

Instead, the government should hold the SBP accountable for “achieving a realistic currency parity (in line with fundamentals) as well as taming inflation (demand side), while managing supply side disruptions via a thorough strategy (farm to market management with necessary imports in time)”, he commented.