ISLAMABAD – Pakistani rupee continued its positive trajectory against the US dollar in both interbank and open markets as recovery continues.
During the early hours of trading on Thursday, the local currency strengthened by 0.41 percent. PKR hovered at 283.50, with an increase of Rs1.18, in the inter-bank market.
Last week, the Pakistani rupee continued its upward momentum and settled at 284.68.
Since reaching a historic peak over the past few weeks, the dollar lost over Rs25 in both the open market and interbank as authorities tightened the noose around hoarders and smugglers.
Furthermore, the gap between the interbank market and the open market also shrank massively.
Pakistani authorities launched a massive crackdown against the elements involved in dollar smuggling and hoarding to prevent damage to the national economy. The government has also ordered to take strict action against unauthorised money changers and other mafias operating in the country.
Saudi Riyal to Pakistani Rupee – SAR to PKR Rate – 5 October 2023
