Rupee continues to gain ground against US dollar

Rupee is expected to strengthen further in the coming days on the back of more inflows

Islamabad: The US dollar continued its declining trend in the interbank and open market on Friday. In the interbank today, Pakistani rupee gained Rs2.15 against the dollar to reach Rs224. While in the open market, the dollar traded between Rs221 and Rs223.

This persistent gain by the rupee has brought exchange rate stability as currency dealers feel that the fluctuations would not be as volatile as were witnessed in July when the dollar gained over 13 percent in a single month against the local currency.

The SBP interbank closing rate for today was Rs224.04 per USD, rupee appreciated by 0.94%.

 

 

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