PKR rises to 281.28 vs USD in interbank market – Daily Times

The Rupee edged higher against the US dollar in the inter-bank market for the fourth consecutive session on Monday and improved by 12 paisas (+0.04 percent). The State Bank of Pakistan (SBP) said in a tweet that the rupee opened at 281.40 against the dollar in the interbank market and closed at 281.28. Overall, the local unit improved by 46 paisas against the greenback last week while it has gained Rs5.63 during the previous eight weeks, which closed on a positive note. Similarly, the rupee improved by Rs7.01 during the current fiscal year 2023-24 and 58 paisas in the current year. The rupee gained Rs3.31 against the US dollar in December, while it shed Rs3.69 against the US dollar in November after gaining Rs6.26 (+2.23 percent) against the greenback in the month of October. The currency surged more than 6 percent in September. On the other hand, the local unit remained unchanged against the greenback in the open market. The rupee was quoted at 279.75 for buying and 282.75 for selling as compared to the same rates in the previous session, according to data provided by different exchange companies. The rupee gained Rs3.50 against the greenback in December while it surged by 50 paisas against the greenback last week.