ISLAMABAD: After a slight depreciation of just 03 paisa on Tuesday, the Pakistani rupee continued its upward trend from the last 15 days as on Thursday the local currency registered further gain of 05 paisa US dollar (0.02%) in the inter-bank market to settle at Rs281.67 against Rs281. 72 last day, reported by State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/WrIwEXiMW2#SBPExchangeRate pic.twitter.com/D3kJuUb55d
— SBP (@StateBank_Pak) January 4, 2024
Last day the local currency appreciated by 17 paisa against the US dollar. In a major, the caretaker government has decided to reduce industrial tariff (including electricity tariff) to a handsome level, however the final decision would be made after the approval of International Monetary Fund’s (IMF).
Appreciation of Pak Rupee
The Pakistani Rupee witnessed fluctuation during the last couple of months. From the first week of September, 2023 till middle of October 2023, the Pakistani rupee improved for record 28 consecutive sessions against the greenback, followed by continues fall for 17th consecutive sessions from October till November 15.
However, from November 16, 2023 the local currency recorded mostly appreciation with slight depreciation for just three consecutive days, that was turned around at the end of November last year and still floating in the same upward trend, except the minor decline by 03 paisa on Tuesday.
