On the first trading day of this week, the US dollar’s value continued to decline in the interbank market due to increased efforts by authorities to crack down on foreign currency smuggling and illegal currency trading.
The domestic currency, the PKR, saw an increase of Re0.9 against the US dollar in the interbank market today. The closing exchange rate for PKR stood at Rs290.86, reflecting a 0.31% appreciation compared to Friday’s closing rate of Rs291.76. These figures were reported by the State Bank of Pakistan (SBP) on its official X handle, which was previously known as Twitter.
— SBP (@StateBank_Pak) September 25, 2023
Over the past two weeks, the US dollar has depreciated by Rs16.40 in comparison to the rupee’s value at its highest point. In the open market, the US dollar experienced a decrease of 5 paisa, settling at Rs293.