The Pakistani rupee proceeded with its recovery against the US dollar on Thursday. The local currency registered gains against the greenback for the eighth consecutive session. The US dollar depreciated by Rs3.03, or 1.38%, to close at Rs218.88 in the interbank market.
Karachi: The Pakistani rupee recorded its highest single-day gain against the US dollar. During Wednesday's trade, the dollar lost Rs9.58 and closed at Rs228.80 against the rupee, down from 238.38 from Tuesday's close in the interbank. In a major development, the dollar slumped 4.19% against the rupee, the highest since November 2, 1998, when the greenback fell by Rs5.10.
Karachi: The Pakistani rupee plunged to a new low on Thursday while proceeding with its downward spiral against the US dollar. Data released by the State Bank of Pakistan (SBP) showed that the local unit closed at a historic low of 239.94 against the US dollar — surpassing its last day low of 236.02 after devaluing by Rs3.92, or Rs1.63% today.
Karachi: The ruling PML-N's defeat in the Punjab by-elections provoked political uncertainty. That is why import pressure took the Pakistani rupee to a new low against the US dollar in the interbank market Monday. Data released by the State Bank of Pakistan (SBP) indicated that the local unit lost Rs4.25, or 1.97%, against the US dollar to close at an all-time low of Rs215.20. It is the highest day-on-day depreciation after March 26, 2020.
Karachi: The Pakistani rupee remained highly volatile and continued its losing streak against the US dollar on Tuesday. It lost Rs2 in the interbank market despite Finance Minister Miftah Ismail assuring that the International Monetary Fund (IMF) program would be revived within the next two days. According to the State Bank of Pakistan (SBP), the US dollar closed at Rs211.48, after appreciating Rs2, or 0.72%, against Monday's record high of Rs209.96.
Karachi: On Monday, the Pakistani rupee plunged further and crossed the 210 threshold against the US dollar in the interbank market for the first time. The domestic currency closed at Rs209.96 against the greenback in the interbank market after losing Rs1.21, or 0.65%, according to the State Bank of Pakistan (SBP). This is the seventh consecutive working day of free-fall in the rupee, losing approximately Rs6, or over 3%, to date.
Karachi: On Wednesday, the Pakistani rupee continued its downward slide against the US dollar as it depreciated over Re1 in the interbank market. According to the State Bank of Pakistan (SBP), the local currency shed Rs1.3 (or 0.63%) against the greenback to close at Rs206.46. A day earlier, the Pakistani rupee closed at Rs205.16.
Karachi: It was reported on Monday that the Pakistani rupee continued to rise against the US dollar in the inter-bank market. It occurred due to positive sentiments generated by the release of a $1 billion tranche by the International Monetary Fund (IMF). According to data released by the State Bank of Pakistan (SBP), the local currency closed the day at Rs174.47.