Tag: US Dollar

Karachi, October 23, 2024 – The Pakistani rupee exhibited resilience on Wednesday, closing firmer at PKR 277.73 against the US dollar in the interbank foreign exchange market. This marks a slight gain from the previous day’s closing rate of PKR 277.74, reflecting a stabilizing trend in the currency.

Karachi, October 22, 2024 – The Pakistani rupee weakened by 5 paisas against the US dollar on Tuesday, as rising external payments put pressure on the currency. The rupee closed at PKR 277.74 per US dollar in the interbank market, compared to the previous day’s closing of PKR 277.69.

Karachi, October 21, 2024 – The Pakistani rupee weakened by 8 paisas against the US dollar on Monday, closing at PKR 277.69 compared to Friday’s closing of PKR 277.61 in the interbank foreign exchange market. The depreciation comes as the demand for dollars surged due to foreign payments, particularly for imports and corporate obligations, putting pressure on the local currency.

The Pakistani rupee is projected to maintain stability against the US dollar in the upcoming week, supported by ample dollar supplies and a steady increase in foreign exchange reserves. After experiencing minor fluctuations in the interbank market over the past week, the rupee is expected to trade within current ranges as foreign inflows continue to sustain the local currency.