Pakistani rupee gains against US dollar, closes at Rs277.32 in interbank
“Pakistani rupee strengthened slightly against the US dollar on Friday, with the greenback losing three paisas to settle at Rs277.32 in interbank trading. KARACHI…”
KKARACHI —The Pakistani rupee recorded a modest gain against the US dollar on Friday, extending its improvement as the greenback edged lower in the interbank foreign exchange market. On the fifth and final trading day of the week, the US dollar declined by three paisas against the rupee and closed at Rs277.32 in the interbank market.
The dollar had settled at Rs277.35 in the previous trading session, meaning the local currency registered a marginal appreciation on a day-to-day basis. The latest movement indicates relative stability in the rupee-dollar exchange rate, with the domestic currency gaining slightly against the world's major reserve currency.
Exchange-rate movements remain important for Pakistan's economy because the value of the rupee directly affects the cost of imports, including fuel, machinery and industrial raw materials, as well as external debt servicing.
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