Pakistani Rupee Makes Commendable Recovery Against USD

Business

The US dollar has declined Rs.1.52 against the Pakistani rupee in interbank trading after reaching an all-time high.

The dollar is now trading at 167.60 cents. The US dollar has been flying high against the Pakistani rupee until today, when the central bank intervened.

On Wednesday, the dollar reached a new all-time high, closing at Rs169.12. The US dollar (USD) fell by Rs1.52 against the Pakistani rupee when the State Bank of Pakistan (SBP) intervened.

On September 16, the local currency gained ground versus other major currencies, snapping its losing trend. It earned Rs. 1.98 versus the Euro, Rs. 1.64 versus the Pound Sterling (GBP), 44 paisas versus the Canadian Dollar (CAD), and 93 paisas versus the Australian Dollar (AUD). It also gained 25 paisas versus the Saudi Riyal (SAR) and 26 paisas against the Dirham of the United Arab Emirates (AED)

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