Dollar price continues on upward trajectory, sees another surge

KARACHI: The Pakistani rupee weakened by Rs1.05 against the US dollar and closed at Rs303.05 in the interbank market on Tuesday the State Bank of Pakistan said.

The Pakistani currency depreciated by -0.35 per cent against the US dollar.

Interbank closing #ExchangeRate for todayhttps://t.co/cRgkXcD29J#SBPExchangeRate pic.twitter.com/eU0JGVGMSF

— SBP (@StateBank_Pak) August 29, 2023

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Earlier today, The Pakistani Rupee (PKR) displayed a modest improvement of 50 paisa against the US Dollar (USD) by midday, marking a brief respite in its recent streak of depreciation. The rupee’s value currently hovers around Rs. 303.16 against the USD, in contrast to its value of Rs. 303.011 per USD at the same time yesterday.

According to data and research platform Capital Stake, the USD reached its peak for the day at Rs. 303.66, which mirrored the opening exchange rate set from the previous day’s closing rate. As the day progressed, the PKR managed to recover marginally, demonstrating the 50 paisa improvement against the greenback.