The Pakistani rupee continued to solidify its position as the local unit has gained Rs1.05 in its value against the US dollar in the interbank trading on Tuesday, reported 24NewsHD TV channel.

According to the State Bank of Pakistan, the US dollar again took a plunge in the interbank and ended the day at Rs294.90, down by Rs1.05.

https://twitter.com/StateBank_Pak/status/1704095625971892294

Yesterday, the Pakistani rupee appreciated by 90 paisas against the US dollar in the interbank to settle at Rs295.95.

https://twitter.com/StateBank_Pak/status/1703753222211698969

This is the 10^th consecutive session in which the PKR maintained its upward momentum.

It bears mentioning here that the domestic currency appreciated by Rs6.1 or 2.05% during last week against the greenback.

It seems that the ongoing crackdown on currency hoarders and smugglers and the State Bank of Pakistan’s reforms have started paying off, restricting the illegal dollar outflows and strengthening the local unit against the US dollar.

 

Reporter Ashrarf Khan