After two days of attempting to regain the huge ground lost to the Pakistani rupee over the past few weeks, the US dollar once again shed value.
At the opening of Thursday's trading session, the mighty American currency lost another Rs1.29 against the local rupee in the interbank market.
On Thursday morning, the US dollar opened with Rs279 in the interbank market.
A short while later, the greenback lost Rs1.79 and settled at a new low of Rs278.50.
Also Read: USD thrashes PKR as greenback gains Rs3.25 in interbank
After the demand of the currency released, the value of the dollar has stared dipping.
At the end of the day’s trading, the American currency fell by Rs1.48 and closed at Rs278.81.
Interbank closing #ExchangeRate for todayhttps://t.co/2GDqC1a99h#SBPExchangeRate pic.twitter.com/kTExYSKPqS
— SBP (@StateBank_Pak) October 19, 2023
In the open market also, the minor advance of the US dollar stopped on Thursday, as the currency lost Rs2 to trade at Rs279.
On Wednesday, the American currency attempted to bounce back against the Pakistani Rupee as the greenback halted the advance of local units and closed at Rs280.29 with a huge increase of Rs3.25.
In the afternoon session, the USD gained nearly Rs3 against the local currency and crossed Rs280.
Interbank closing #ExchangeRate for todayhttps://t.co/MaQrBcTLrz#SBPExchangeRate pic.twitter.com/vzQmy6TCsN
— SBP (@StateBank_Pak) October 18, 2023
Moreover, in the open market, the rupee shed Rs4 against the USD, as the exchange companies traded the dollar at Rs278 for buying and Rs281 for selling, compared to the previous closing of Rs274 for buying and Rs277 for selling.
On Tuesday, US Dollar continued its downward trend on the 29th business day against the ‘unstoppable’ Pakistani Rupee and reached Rs275.75 with a decrease of Rs1.08.
However, in the afternoon trading session, the US dollar showed little resistance against PKR’s winning streak and gained 17 paisas and reached Rs277.17.
