Rupee rally continues with fresh gains in interbank

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PKR/USD: Pakistan rupee set to become world's best currency

KARACHI: The Pakistani rupee continues upward trend against the US dollar in the interbank market on Tuesday, ARY News reported quoting forex dealers.

The Pakistani rupee gained Rs0.20 against the USD and currently trading at Rs278.92 in the interbank market, the forex dealers said.

The banks are selling the greenback to the importers at Rs279, while the US currency was being sold at Rs281 against the local currency in the open market.

Last week, the USD shed Rs5.07 against Pakistani rupee (PKR) in interbank trading.

Read more: US dollar sheds Rs 5.07 in week against Pakistani rupee

USD dropped to Rs277.62 in the interbank trading from 282.69 rupees the week ended on Friday (October 13).

The State Bank of Pakistan (SBP) suspended the authorisation of five Exchange Companies with immediate effect due to a violation of regulatory instructions.

The five companies were: International Exchange Company–B (Pvt) Limited, World Wide Exchange Company –B (Pvt) Limited, World Exchange Company –B (Pvt) Limited, Universal Exchange Company –B (Pvt) Limited and United Exchange Company –B (Pvt) Limited.



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