USD to PKR rate in Pakistan down by Re. 96 to Rs 277.62 on Oct 13

KARACHI: The US Dollar exchange rate in Pakistan experienced a further decline of Re. 96, closing at Rs 277.62 in the Inter-bank market on Friday (Oct 13), said the State Bank.

The Pakistani Rupee continued its positive trajectory against the US Dollar, registering a 0.35% gain in the interbank market. This marks the 27th consecutive increase in the Rupee’s value against the US Dollar.

Meanwhile, on the global stage, the US Dollar remained strong on Friday, impacting various currencies. This strength was largely attributed to an unexpected surge in US consumer inflation, which has reignited expectations that the Federal Reserve might need to maintain higher interest rates for an extended period. Recent data from Thursday indicated that US consumer prices rose in September, driven by a significant increase in rental costs.