On Wednesday, the Pakistani rupee ended an 11-day winning streak versus the US dollar in the interbank market, as the local currency corrected. According to the State Bank of Pakistan (SBP), the rupee declined 0.98pc to 214.88 versus the US dollar in the interbank market, down from 213.90 at the conclusion of Tuesday’s session. In the open market, the rupee gained further Rs3.50 to Rs214.50 on Wednesday morning, after closing at Rs211 on Tuesday. It is worth noting that the Pakistani Rupee has recovered Rs37 versus the US Dollar in the open market and Rs26 in the interbank market during the previous 12 days, making it the world’s best performing currency.
Pakistani rupee halts climb against US dollar
Published on: August 18, 2022 8:14 AM