The Pakistani rupee has gained ground against the U.S. dollar for the eighteenth consecutive day. On the interbank market, the rupee opened the trading day at 290 per dollar.
As the day progressed, the performance of the rupee was favorable, reaching a peak of 282 against the U.S. dollar, representing a remarkable gain of approximately Rs. 8.
In the middle of the day, between 1:30 and 2:30 p.m., the interbank exchange rate settled at 288. Throughout the remainder of the day, it remained at 286.
Over the course of the previous fifteen trading sessions, the Pakistani Rupee has gained 20.3 rupees against the US dollar.
On this day, currency exchange rates on the open market ranged between 282 and 288. Since September 4, the open market rate has strengthened by approximately 52 rupees against the U.S. dollar.
By the end of the trading day, the Pakistani Rupee had gained 0.34 percent against the US Dollar, closing at 286.76 with a gain of 98 paisas.
October’s first two weeks were characterized by optimistic market sentiments, according to traders. Customers have been able to obtain US Dollars at exchange rates ranging from 282 to 286, with some reaching 284.
Since January 2023, the Pakistani Rupee has encountered a depreciation of approximately Rs. 67. Since April 2022, its value against the US dollar has decreased by more than Rs. 114. In today’s exchange rate fluctuations, the Rupee gained nearly 1 Rupee per Dollar.
In addition, the Rupee’s performance against other main currencies on the interbank market today was favourable. It gained 25 paisas versus the Saudi Riyal (SAR), 26 paisas versus the UAE Dirham (AED), 35 paisas versus the British Pound (GBP), and a significant Rs. 2.01 versus the Canadian Dollar (CAD).