The US dollar continued its downward trend against the Pakistani rupee when Thursday’s trading session began in the interbank market. The day started with the American currency losing 91 paisas in the interbank market, settling at Rs278.60.
In the open market, the dollar also depreciated by Re1, reaching a value of Rs278.
This decline in the value of the US dollar in exchange for the Pakistani rupee is in line with the ongoing trend of the currency’s devaluation in both the interbank and open markets.
— SBP (@StateBank_Pak) October 12, 2023
Over the past five weeks, the US currency has lost Rs52 in value in the open market and Rs28.42 in interbank trade.
On Wednesday, the US dollar hit a record low against the rupee, dropping below the Rs280 mark for the first time in three months.