Rupee continues to strengthen against US dollar, dips below 280 in interbank

Pakistani rupee continues its upward trajectory on Monday against the US dollar during morning trade in the interbank market.

In the early hours of trading, the local currency registered some gain against the greenback, moving 0.21pc in the inter-bank market.

Before noon, the local currency improved by Rs0.58, and the current rate at 279.78.  

PKR continued its upward trajectory against US dollar, appreciating by Rs1.04 or 0.37pc to settle at 280.36 against the USD in inter-bank market.

Rupee’s merry run has been linked with announcement of staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) on first review of the Stand-by Arrangement (SBA).

Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal – 15 January 2024

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