The Pakistani Rupee (PKR) gained further ground against the US Dollar (USD) in the open market on Wednesday, as the gap with the interbank rate narrowed.
At the end of trading, the rupee settled at around 323 for selling and 320 for and buying in the open market. The PKR also made a comeback against the USD in the interbank market. The local currency gained Rs. 0.12 against the greenback at the close of today’s session.
The PKR depreciated by 0.04 percent against the USD and closed at Rs. 306.98 today. The PKR had lost Rs. 1.46 against the greenback at the close of yesterday’s session, closing at Rs. 307.10.
The rupee’s comeback in the open market came on the back of Chief of Army Staff (COAS) General Asim Munir’s meeting with the business community. The COAS had assured the business community of fostering transparency in dollar exchange and interbank rates.
The PKR also marginally appreciated against some of the other currencies in the interbank market today. It gained Rs. 0.65 against the Euro (EUR), Rs. 0.033 against the UAE Dirham (AED), and Rs. 0.034 against the Saudi Riyal (SAR).
However, the rupee depreciated by Rs. 0.23 against the British Pound (GBP), Rs. 0.30 against the Australian Dollar (AUD), and Rs. 0.08 against the Canadian Dollar (CAD).
Source: Pro Pakistani