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PKR maintains one-month winning streak against USD, closes at Rs283.62

PKR has successfully managed to maintain its one-month winning streak against the USD and closed at Rs283.62 on Thursday.

The local currency maintained its upward trajectory against the US dollar, gaining 0.37 percent in the interbank market on Thursday.

Now, PKR stands at Rs283.62 per dollar, according to the State Bank of Pakistan, having strengthened by more than Rs23 against the greenback since September 5th.

On September 5, the Pakistani rupee plummeted to Rs307.10 against the US dollar in the interbank market, a historic low.

Since then, the local currency has been on the road to recovery after the military-backed crackdown launched a crackdown on currency smugglers, hoarders, and speculators.

In the days to come, the rupee would strengthen to 280 to the dollar, analysts claim.

 

Saman Siddiqui

Saman Siddiqui, A freelance journalist with a Master’s Degree in Mass Communication and MS in Peace and Conflict Studies. Associated with the media industry since 2006. Experience in various capacities including Program Host, Researcher, News Producer, Documentary Making, Voice Over, Content Writing Copy Editing, and Blogging, and currently associated with OyeYeah since 2018, working as an Editor.

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