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Pakistani Rupee’s Rally Against the US Dollar Persists in Interbank Market

On the first working day of the week, the Pakistani rupee continued its positive trend against the US dollar, gaining an additional Rs1.14 in the interbank market. This marked a 0.41 percent increase during intra-day trading.

As a result of these recent gains, the Pakistani rupee is now trading at approximately 276.48 in the interbank market.

In the previous week, the Pakistani currency displayed substantial strength, accumulating a 1.79 percent gain over five sessions and closing at 277.62 against the US dollar.

Earlier in the year, the rupee’s value had dipped to 307.1 in the interbank market on September 5. In response, authorities launched a crackdown against smuggling and implemented controls on the Exchange Companies (ECs) sector. Furthermore, the central bank introduced administrative measures, leading to a comprehensive crackdown on the money market. As a result, nine exchange companies have faced suspension due to regulatory violations.

Sidra Anwar

Lives in Karachi Pakistan, working as a social activist and a news reporter at ThePost. In free time, loves to cook, drive and reading books. Also, member in many popular journalists groups, I know what people don't know about our country. Email: sidra@www.thepost.com.pk

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