Rupee largely stable against US dollar

Greenback closes trading at Rs223.69 in interbank market
Dec 01, 2022
<p>Photo: SAMAA</p>

Photo: SAMAA

Following two consecutive days of stability, the Pakistani rupee finally recovered slightly against the US dollar, appreciating by 26 paisas during trading in the interbank market.

According to data released by the State Bank of Pakistan (SBP) on Thursday afternoon, the value of rupee improved against the greenback by 0.12%.

Previously, the value of the Pakistani rupee remained unchanged since Monday afternoon, settling at Rs223.95, with a zero change in value against the greenback.

Last week, the rupee’s spot rate dropped by two paisas on Friday.

Meanwhile, the rupee’s depreciation run against the US dollar began on last Wednesday, after experiencing a brief upswing the day before.

With economic instability, the rupee has lost value in five consecutive sessions in the interbank market, but has managed to remain in the Rs223 range.

Open market

In the open currency market, the value of rupee increased from Rs231 to Rs231.50, respectively.

However, the rate to buy the US dollar also changed to Rs229.25.

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