Pakistani Rupee Strengthens Against US Dollar at Start of New Business Week; Open Market Rate Slips to Rs279.23
ISLAMABAD: The steady recovery trend of the Pakistani Rupee (PKR) against the US Dollar continued to be seen in the currency markets at the start of the new business week as the foreign exchange reserves remained stable.
Official exchange rate data available with the State Bank of Pakistan (SBP):
Open Market Rates: The US dollar fell 15 paisas in the open market to Rs279.23.
Interbank Market Rates: The greenback fell slightly by 1 paisa to Rs277.15 in the interbank market.
The currency’s strength is attributed to the balance of import-export of goods, steady remittances of workers and the constant fiscal management measures.