Pakistani Rupee Continues Recovery Against US Dollar

The Pakistani Rupee (PKR) has continued to strengthen against the US Dollar (USD) for the seventh consecutive session as the local currency gained Rs. 1.16 against the greenback at the closing of the interbank market on Monday.

According to the State Bank of Pakistan (SBP), the Pakistan Rupee (PKK) closed at Rs. 227.29 against the US Dollar (PKR) in the interbank market on Monday (3 October 2022), which was a gain of Rs. 1.16 compared to Friday (30 September 2022) when the local currency closed at Rs. 238.45 against the greenback.

Read more: USD to PKR – Dollar Rate in Pakistan – 1 October 2022.

The development comes after newly appointed Finance Minister, Ishaq Dar, said that strengthening of the Pakistan Rupee would be one his main objectives and no one would be allowed the do any manipulation in the exchange rate.

According to the Finance Minister, the appreciation of the US Dollar against the Pakistani Rupee is artificial and the actual value of the PKR has been manipulated. “I warn those involved in artificial appreciation of dollar against rupee, as strict action will be taken against them,”

Follow INCPAK on Facebook / Twitter / Instagram for updates.