Pakistani Rupee increases against US dollar in interbank market

Web Desk

09th Aug, 2023. 06:48 pm
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Pakistani rupee shows resistance against the greenback, gaining marginal gains in the inter-bank market.

Information from the State Bank of Pakistan reveals that the domestic currency experienced an increase of Rs0.45, reaching a final value of 287.46 as compared to the previous trading sessions. During those sessions, the rupee had been losing ground against the dollar and was facing consistent pressure.

On a global scale, the USD maintained its recent gains against major counterparts, as investors opted for the security provided by the currency.

According to experts, the Pakistani rupee is expected to face continued pressure. This is because the restrictions on imports are being lifted in response to requests from the International Monetary Fund (IMF).

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