US dollar maintains upper hand against Pakistani rupee; up by 52 paisas
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The US dollar added up more paisas to its value as the business in the interbank business was set into motion on Thursday, reported 24NewsHD TV channel.
As per the forex dealers, greenback surged by 52 paisas against the Pakistani rupee and ended the day at Rs221.95.
Interbank closing #ExchangeRate for todayhttps://t.co/i25K5Ab9Dm pic.twitter.com/p6C27vztbX
— SBP (@StateBank_Pak) November 3, 2022
The greenback closed the day on Wednesday at Rs221.43.
Interbank closing #ExchangeRate for todayhttps://t.co/ndFr4u83rT pic.twitter.com/gyFwke458T
— SBP (@StateBank_Pak) November 2, 2022
Analysts were of the view that the local currency now has taken a breather as there was no additional positive news to fuel its positive streak against the US dollar.
They opined that the rupee had improved after the government had announced several steps to boost the money market and it was also expecting an economic package for Pakistan from China.
Another reason for the rupee’s appreciation during the last two days was the sinking of the US dollar from a one-week high against a basket of major international currencies.
Reporter Ashraf Khan