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Pakistani rupee strong against US Dollar

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The Pakistani Rupee has been performing well against the US Dollar, and it reached Rs278.50 in interbank trading at the beginning of Friday’s trading session. This trend of rupee appreciation continued on the last business day of the week.

In comparison to Wednesday, where the exchange rate was Rs280.29 for 1 US Dollar, the USD closed at Rs278.81 on Thursday in interbank trading against the Pakistani Rupee.

The State Bank of Pakistan (SBP) reported that the country’s current account deficit in September 2023 was significantly lower, standing at $8.0 million, compared to the same month in 2022 when it was $360 million. This reflects positive economic developments.

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