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.
— SBP (@StateBank_Pak) October 5, 2023
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.