The US dollar continues its downward trend against the Pakistani rupee, with the rupee recovering its recent losses.
At the start of trading on Tuesday, the US dollar experienced a decrease of Rs1.25 in the interbank market.
Currency dealers reported that the greenback opened at Rs294.70 in the morning and quickly dropped to Rs294.888.
Later in the afternoon, the American currency declined by an additional Rs1.00, settling at Rs293.88 in the interbank market.
— SBP (@StateBank_Pak) September 20, 2023
In the open market, the dollar also saw a decrease of Re1 and began trading at Rs296.
This positive trend for the Pakistani rupee follows a similar performance on Monday, where it continued to strengthen against the US dollar in the interbank market, signaling a promising start to the trading week.
The gap between the interbank rate and the dollar’s value in the open market has also narrowed as the US dollar depreciated by Rs1.25 on Monday morning.