Pakistani Rupee Hits 3-Month High Against US Dollar

The Pakistani Rupee (PKR) on Tuesday appreciated by 05 paisa against the US Dollar (USD) in the interbank trading and closed at Rs. 281.96 against the previous day’s closing of Rs. 282.01. This is PKR’s strongest position against the USD since the middle of May. The PKR has strengthened against the USD after a crackdown against dollar black market in recent weeks. The price of the Euro decreased by 04 paisa to close at Rs. 329.24 against the last day’s closing of Rs. 329.28, according to the State Bank of Pakistan (SBP). The Japanese yen came down by 01 paisa and closed at Rs. 190, while the exchange rate of the British Pound witnessed a decrease of 82 paisa to close at Rs. 381.01 against the last day’s closing of Rs. 381.83. The exchange rates of the Emirates Dirham and the Saudi Riyal decreased by 02 and 03 paisa and closed at Rs. 76.76 and Rs. 75.13, respectively.