USD to PKR rate increases by Re0.50 to Rs281.50 in open market on Oct 24

KARACHI: The exchange rate of the US dollar in Pakistan rose by 50 paise, reaching Rs281.50 in open market on Monday.

Meanwhile, the US dollar’s value increased by 31 paise in the inter-bank market, closing at Rs279.43, compared to the previous day’s closing rate of Rs279.12.

The Pakistani rupee experienced a slight devaluation of 0.14% against the US dollar during inter-bank trading on Tuesday.

Internationally, the US dollar depreciated against various currencies on Tuesday. This devaluation coincided with a drop in US Treasury bond yields, as investors eagerly awaited significant economic data from the United States in preparation for the upcoming Federal Reserve monetary policy meeting.