The Pakistani rupee has once again shown strength against the US dollar. This upward trend reflects positive market sentiment and can have various implications, including making imports cheaper and potentially boosting the economy.
The US dollar value has fallen below 290 against the Pakistani rupee. This means that it now takes less Pakistani rupees to buy one US dollar. The latest exchange rate reflects the relative strength of the two currencies in the foreign exchange market.
According to the State Bank of Pakistan (SBP), the Pakistani rupee settled at 289.8 after experiencing a significant increase of Rs1.06 in the inter-bank market. This rise in value indicates the continued strengthening of the rupee against the US dollar.
It is important to note that, Pakistani rupee has been on a remarkable upward trend in recent days, recovering over 6% since its record low of 307.1 against the US dollar on September 5 in the inter-bank market.
