Pakistani rupee soars again against US dollar in interbank market
By News Desk
September 14, 2023 10:18 AM
The Pakistani rupee continued to build on its newly-found strength against the US dollar as it appreciated again in the interbank market on Thursday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency once again scored a handsome gain against the greenback as it was up for the seventh consecutive session as it appreciated by 86 paisas, ending the day at Rs297.96.
On Wednesday, the Pakistani rupee had maintained its positive momentum against the US dollar, appreciating for the sixth successive session to settle at Rs298.82 in the interbank market. At close, the rupee was up Rs1.07 or 0.36%.
Cumulatively, the rupee has appreciated nearly 3% in the last six sessions after it hit a record low of 307.1 last week.
The Pakistani currency has been on an appreciation run since the government had announced a crackdown against hoarders and smugglers of local currency last week, with a more pronounced change witnessed in the open-market.
Reporter Ashraf Khan