Karachi: At the conclusion of the trading week, the US dollar experienced a slight decline in the interbank market. According to the State Bank of Pakistan, the currency slipped by 3 paisas to close at 281.17 rupees on Friday, down from 281.20 rupees the previous day.
Market experts attribute this stability in the Pakistani rupee to the improvement in foreign exchange reserves alongside a decrease in import pressures. The steady monetary policy pursued by the central bank, coupled with eased external payment obligations, has further bolstered the local currency.
In parallel, the open market also witnessed a minor reduction in the dollar’s value, where it was sold at 282.50 rupees after a slight fall.
Financial analysts are optimistic that if this positive trend continues, the rupee could see further appreciation in the near future.
