Pakistani Rupee Gains Slightly Against US Dollar in Interbank Market

Karachi: At the end of the business week, the Pakistani Rupee showed slight improvement against the US Dollar in the interbank market.

According to the State Bank of Pakistan (SBP), the Dollar fell by 3 paisas on Friday, closing at Rs. 281.17. A day earlier, it had closed at Rs. 281.20.

Market analysts say the rupee’s stability is due to improved foreign exchange reserves and a reduction in import-related pressure. Experts also credit the State Bank’s consistent monetary policy and a drop in external payment obligations for supporting the local currency.

In the open market, the Dollar also saw a slight dip, trading at Rs. 282.50 after a minor decrease.

Meanwhile, gold prices fell sharply. The price of gold dropped by Rs. 4,578 per tola, bringing it down to Rs. 420,600 per tola.

Financial experts believe that if the current trend continues, the Pakistani Rupee may strengthen further in the coming days.