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Karachi witnessed a continued strengthening of the Pakistani rupee against the US dollar. In the interbank market, the dollar’s value decreased by Rs1.48 at the close of trading, resulting in a closing rate of 278 rupees and 81 paise for the dollar today.
In the open market, the dollar also saw a one-rupee depreciation, bringing its value to 280 rupees.
Read more :Â Pakistani Rupee Makes Strong Rebound Against US Dollar
Just the previous day, the dollar had risen by 3 rupees and 26 paisa in the interbank market, pushing it to 280 rupees and 29 paisa.
Earlier this week, the Pakistani rupee rebounded against the US dollar after a brief decline on Wednesday.
Simultaneously, Pakistan’s current account deficit for September 2023 shrank to $8 million, a significant improvement compared to the $360 million deficit in the same month in 2022.
In early September, the Pakistani rupee hit an all-time low of Rs307, but stringent measures and a substantial crackdown helped the local currency recover, resulting in one of the longest periods of appreciation in recent memory.
