Rupee slightly appreciates against US dollar in interbank

Karachi: Rupee appreciated against US dollar in interbank on Wednesday. 

The Pakistani rupee (PKR) gained momentum against the US dollar (USD) in the interbank market after continuing an upward trend in two consecutive sessions.

According to the central bank, the rupee gained Rs 0.45 against the US dollar in interbank trading to settle at Rs287.46. The US dollar closed at Rs287.91.

In the open market, the US dollar is being sold at Rs294.50, said forex dealers.

Interbank closing #ExchangeRate for today https://t.co/I4yOfu9vbF#SBPExchangeRate pic.twitter.com/mrdsYLhGnx

— SBP (@StateBank_Pak) August 9, 2023

Yesterday, the Pakistani rupee depreciated by 48 paisas against the US dollar in the interbank session as the currency was closed at Rs287.91.

As Prime Minister Shehbaz Sharif is all set to dissolve the National Assembly today, the money dealers and traders seem apprehensive regarding their investments.

Yesterday, the 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Tuesday, losing 956.42 points, a negative change of 1.98 per cent, closing at 47,429.83 points against 48,386.25 points the previous trading day.

A total of 336,078,121 shares were traded during the day as compared to 381,855,144 shares the previous day, whereas the price of shares stood at Rs12.547 billion against Rs 14.528 billion on the last trading day.