KARACHI: On Tuesday, the exchange rate of the US dollar dropped by Rs1.27 below the Rs300 mark in the interbank market.

According to the State Bank, the closing rate for the US dollar was Rs299.89.

Over the past few days, the US dollar has seen a significant decrease of Rs7.22 in the interbank market. The Pakistani rupee, on the other hand, has been consistently strengthening against the US dollar for the fifth consecutive session, reaching a closing rate of 299.89 in the interbank market.

By the end of the trading day, the rupee had appreciated by Rs1.27 or 0.42%, as reported by the State Bank of Pakistan (SBP). In total, the rupee has seen a cumulative increase of over 2% in the last five trading sessions.

It’s important to note that the rupee’s appreciation in the open market has been even more significant.