Rupee maintains upwards trend against US dollar in interbank market

Karachi: The Pakistani rupee (PKR) continued its upward movement against the US dollar in the interbank market on Tuesday.

According to forex dealers, the PKR experienced an appreciation of Re0.03, culminating in a closing value of Rs281.89 in the interbank market.

In interbank transactions with importers, banks were observed selling the US dollar at the rate of Rs282. Meanwhile, in the open market, the dollar was being traded at Rs282.50.

Interbank closing #ExchangeRate for today https://t.co/MrAy4prZ7J#SBPExchangeRate pic.twitter.com/l8yDqumNH5

— SBP (@StateBank_Pak) January 2, 2024

The day concluded with the rupee settling at 282.79 against the US dollar, marking a positive trend in its performance. The currency's strength against the dollar holds significance for various economic factors, including trade and imports. The forex market continues to be closely monitored for fluctuations in currency exchange rates.