US dollar strengthens against PKR

According to the State Bank of Pakistan(SBP), the value of US dollar increased by 9 paisas against the earlier Rs157.04.

Interbank closing #ExchangeRate for today: https://t.co/aK21V7URNW pic.twitter.com/VlUy2c9lAR

— SBP (@StateBank_Pak) March 10, 2021

The buying rate of the US dollar on the third day was Rs156.6, while it was sold at Rs157.5 in Pakistan's currency market.

Earlier on Tuesday, the rupee extended losses for the second consecutive session because of the prevailing high demand from importers, dealers said.

“The supply and demand position of dollars and the upcoming data on the country’s forex reserves will determine the future direction of the rupee. The rupee should conclude this week at 156.80-156.90 per dollar,” said a currency exchange dealer.

It is important to mention that Pakistani Rupee appreciates when lesser amount of rupees is required to get one USD whereas PKR depreciates when more rupees are required to get one greenback.According to the State Bank of Pakistan(SBP), the value of US dollar increased by 9 paisas against the earlier Rs157.04.