KARACHI – Pakistan rupee registered gains for second consecutive day on Friday against the US dollar in the interbank market.
The local currency moved up by 23 paisas in the interbank market, and the greenback settled at Rs286.97 as compared to yesterday’s Rs287.20.
The development comes as the positive sentiments ruled the market after the State Bank of Pakistan (SBP) allowed the currency exchange companies to import the dollars from other countries to maintain demand and supply following the lifting of import restrictions.
A circular issued by the central bank stated that the money changers are allowed to import cash dollars till December 31, 2023 and will be subject to the condition that total cash US dollars imported by an exchange company during this period shall not exceed 50% of the value of its export consignments.
“Exchange companies shall ensure that all transactions related to import of cash shall be properly reflected in their books of accounts.”
