The Pakistani rupee has cemented its value for the ninth consecutive session against the US dollar in the interbank market on Monday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 90 paisas against the greenback which ended the day at Rs295.95.
https://twitter.com/StateBank_Pak/status/1703753222211698969
API Response: <!DOCTYPE html> <html lang="en" class="dog"> <head> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1.0"> <title>X / ?</title> <meta name="version" content="1"> <link href="https://abs.twimg.com/favicons/twitter.3.ico" rel="shortcut icon" type="image/x-icon"> <link rel="stylesheet" href="https://abs.twimg.com/errors/fullscreen_errors-047ca1475a6efac7c9c89a9ff92b7a20.css"> </head> <body dir="auto"> <div class="top"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1519 200"> <defs/> <path d="M708 103l9-5 13 1 2-2 5 1h8l1-1 42-5h7l7 3v1l12-2a9368 9368 0 0129-6l2-5 12 1 6-2 3 1 2 1v-2l13-2v1l4 2 7-1h1l17-3 1 2 4-1 18-7 3-1 4-1h9l13-1 1-4 3-2 13 1v2l22-2 10-3h6l10 5 16-5 15-3 2-1 8-4 6-2 12-1 7-2 8 5 7 1 22-9h7l5-1v-1l25-3 1 2 5 2v1h11l2 1 8-4h3l-1 1h11l10-6 6 3 9-1 4-1 1 1 1-2 6-1 1-1 10-2h2l7-5v1h4l3-1c11 0 23 2 34-3 2-2 7 0 10 0l12 1 4 1 9 2 12-1 11-3 11 1h4l10-6 17 1 2 1c9 2 19-3 22-11l1-1 9 1 15-5c3-1 9 4 9-5 5 0 5 3 5 7l2 3 4-1 4-2 9-4 3-3h3l8-4 6-3 26 2 7-4h18l7 1c10 3 13-6 17-12l8 4 3-1 14-3 15-2a38 38 0 01-5-1l-8-4 7-8 8-4-10-136-922 71 16 205z"/> <path d="M-36 193l9-5 13 1 2-2 5 1h8l1-1 42-5h7l7 3v1l12-2a9328 9328 0 0129-6l2-5 12 1 6-2 3 1 2 1v-2l13-2v1l4 2 7-1h1l17-3 1 2 4-1 18-7 3-1 4-1h9l13-1 1-4 3-2 13 1v2l22-2 10-3h6l10 5 16-5 15-3 2-1 8-4 6-2 12-1 7-2 8 5 7 1 22-9h7l5-1v-1l25-3 1 2 5 2v1h11l2 1 8-4h3l-1 1h9a6 6 0 002 0l10-6 6 3 9-1 4-1a6 6 0 001 1l1-2 6-1 1-1 10-2h2l7-5v1h4l3-1c11 0 23 2 34-3 2-2 7 0 10 0l12 1 4 1 9 2 12-1 11-3 11 1h4l10-6 17 1 2 1c9 2 19-3 22-11l1-1 9 1 15-5c3-1 9 4 9-5 5 0 5 3 5 7l2 3 4-1 4-2 9-4 3-3h3l8-4 6-3 26 2 7-4h18l7 1c10 3 13-6 17-12l8 4 3-1 14-3 15-2a37 37 0 01-5-1l-8-4 7-8 8-4-10-136-922 71 16 205z"/> </svg> </div> <div class="container"> <div class="content"> <a href="https://twitter.com" title="X logo"> <svg viewBox="0 0 24 24" aria-hidden="true" class="x-logo"><g><path d="M18.244 2.25h3.308l-7.227 8.26 8.502 11.24H16.17l-5.214-6.817L4.99 21.75H1.68l7.73-8.835L1.254 2.25H8.08l4.713 6.231zm-1.161 17.52h1.833L7.084 4.126H5.117z"></path></g></svg> </a> <h1 id="header">Nothing to see here</h1> <p id="description">Looks like this page doesn’t exist. Here’s a picture of a poodle sitting in a chair for your trouble.</p> <a id="button_search" href="/" class="button">Looking for this?</a> </div> <img id="image" src="https://abs.twimg.com/errors/ErrorState_NotFound.png" alt="A primped poodle with a bow in its hair sitting in a chair like a human."> <div class="footer"> <ul> <li><a href="https://twitter.com/" id="footer_home">Home</a></li> <li><a href="https://status.twitterstat.us/" id="footer_status">Status</a></li> <li><a href="https://twitter.com/tos" id="footer_tos">Terms of Service</a></li> <li><a href="https://twitter.com/privacy" id="footer_privacy">Privacy Policy</a></li> <li><a href="https://support.twitter.com/articles/20170514" id="footer_cookie">Cookie Policy</a></li> <li><a href="https://legal.twitter.com/imprint" id="footer_imprint">Imprint</a></li> <li><a href="https://business.twitter.com/en/help/troubleshooting/how-twitter-ads-work.html" id="footer_ads">Ads info</a></li> <li dir="ltr">© X Corp. <span id="copyright-year">    </span></li> </ul> </div> </div> </body> <script src="https://abs.twimg.com/errors/404-8651f633fd193e0b546010676a4fac06.js"></script> </html>
On Friday last, the Pakistani rupee had appreciated by 0.37% in the interbank market as it had settled at Rs296.85 after an increase of Rs1.11.
https://twitter.com/StateBank_Pak/status/1702658491947810970
API Response: <!DOCTYPE html> <html lang="en" class="dog"> <head> <meta http-equiv="Content-Type" content="text/html; charset=utf-8"> <meta name="viewport" content="width=device-width, initial-scale=1.0"> <title>X / ?</title> <meta name="version" content="1"> <link href="https://abs.twimg.com/favicons/twitter.3.ico" rel="shortcut icon" type="image/x-icon"> <link rel="stylesheet" href="https://abs.twimg.com/errors/fullscreen_errors-047ca1475a6efac7c9c89a9ff92b7a20.css"> </head> <body dir="auto"> <div class="top"> <svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1519 200"> <defs/> <path d="M708 103l9-5 13 1 2-2 5 1h8l1-1 42-5h7l7 3v1l12-2a9368 9368 0 0129-6l2-5 12 1 6-2 3 1 2 1v-2l13-2v1l4 2 7-1h1l17-3 1 2 4-1 18-7 3-1 4-1h9l13-1 1-4 3-2 13 1v2l22-2 10-3h6l10 5 16-5 15-3 2-1 8-4 6-2 12-1 7-2 8 5 7 1 22-9h7l5-1v-1l25-3 1 2 5 2v1h11l2 1 8-4h3l-1 1h11l10-6 6 3 9-1 4-1 1 1 1-2 6-1 1-1 10-2h2l7-5v1h4l3-1c11 0 23 2 34-3 2-2 7 0 10 0l12 1 4 1 9 2 12-1 11-3 11 1h4l10-6 17 1 2 1c9 2 19-3 22-11l1-1 9 1 15-5c3-1 9 4 9-5 5 0 5 3 5 7l2 3 4-1 4-2 9-4 3-3h3l8-4 6-3 26 2 7-4h18l7 1c10 3 13-6 17-12l8 4 3-1 14-3 15-2a38 38 0 01-5-1l-8-4 7-8 8-4-10-136-922 71 16 205z"/> <path d="M-36 193l9-5 13 1 2-2 5 1h8l1-1 42-5h7l7 3v1l12-2a9328 9328 0 0129-6l2-5 12 1 6-2 3 1 2 1v-2l13-2v1l4 2 7-1h1l17-3 1 2 4-1 18-7 3-1 4-1h9l13-1 1-4 3-2 13 1v2l22-2 10-3h6l10 5 16-5 15-3 2-1 8-4 6-2 12-1 7-2 8 5 7 1 22-9h7l5-1v-1l25-3 1 2 5 2v1h11l2 1 8-4h3l-1 1h9a6 6 0 002 0l10-6 6 3 9-1 4-1a6 6 0 001 1l1-2 6-1 1-1 10-2h2l7-5v1h4l3-1c11 0 23 2 34-3 2-2 7 0 10 0l12 1 4 1 9 2 12-1 11-3 11 1h4l10-6 17 1 2 1c9 2 19-3 22-11l1-1 9 1 15-5c3-1 9 4 9-5 5 0 5 3 5 7l2 3 4-1 4-2 9-4 3-3h3l8-4 6-3 26 2 7-4h18l7 1c10 3 13-6 17-12l8 4 3-1 14-3 15-2a37 37 0 01-5-1l-8-4 7-8 8-4-10-136-922 71 16 205z"/> </svg> </div> <div class="container"> <div class="content"> <a href="https://twitter.com" title="X logo"> <svg viewBox="0 0 24 24" aria-hidden="true" class="x-logo"><g><path d="M18.244 2.25h3.308l-7.227 8.26 8.502 11.24H16.17l-5.214-6.817L4.99 21.75H1.68l7.73-8.835L1.254 2.25H8.08l4.713 6.231zm-1.161 17.52h1.833L7.084 4.126H5.117z"></path></g></svg> </a> <h1 id="header">Nothing to see here</h1> <p id="description">Looks like this page doesn’t exist. Here’s a picture of a poodle sitting in a chair for your trouble.</p> <a id="button_search" href="/" class="button">Looking for this?</a> </div> <img id="image" src="https://abs.twimg.com/errors/ErrorState_NotFound.png" alt="A primped poodle with a bow in its hair sitting in a chair like a human."> <div class="footer"> <ul> <li><a href="https://twitter.com/" id="footer_home">Home</a></li> <li><a href="https://status.twitterstat.us/" id="footer_status">Status</a></li> <li><a href="https://twitter.com/tos" id="footer_tos">Terms of Service</a></li> <li><a href="https://twitter.com/privacy" id="footer_privacy">Privacy Policy</a></li> <li><a href="https://support.twitter.com/articles/20170514" id="footer_cookie">Cookie Policy</a></li> <li><a href="https://legal.twitter.com/imprint" id="footer_imprint">Imprint</a></li> <li><a href="https://business.twitter.com/en/help/troubleshooting/how-twitter-ads-work.html" id="footer_ads">Ads info</a></li> <li dir="ltr">© X Corp. <span id="copyright-year">    </span></li> </ul> </div> </div> </body> <script src="https://abs.twimg.com/errors/404-8651f633fd193e0b546010676a4fac06.js"></script> </html>
The frequent appreciation of the local currency since the start of the current month has strengthened the perception in the currency market that the greenback would depreciate to a certain level required to stabilise the exchange rate.
It is believed that the ongoing crackdown to check forex smuggling would keep the dollar rate on the lower side in the open market while the interbank has substantial liquidity as exporters have started selling their dollar holdings.
Having touched a peak of Rs307, the dollar has lost about Rs11 or 3.65 percent in the interbank market creating fear among the exporters who had been getting benefits of a weaker rupee. This falling trend has compelled the exporters to liquidate their dollar holdings.
Currency dealers said the higher liquidity was one of the reasons for dollar depreciation but they were not sure how long this trend would persist.
Reporter Ashraf Khan
