Pak Rupee Appreciates On The First Day Of Business Week – Research Snipers

Pak Rupee Appreciates On The First Day Of Business Week

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Karachi: The dollar depreciated against Pakistani Rupee on the first day of the business week while the stock exchange has also made a positive start.

According to Forex dealers, the dollar depreciated by 50 paise in the interbank market, after which the dollar traded at Rs 166.60 on the interbank market. The 100 Index is trading at 41,123 points.

Read More: Pak Rupee Stabilizes Against USD

Traders have seen a positive start in the early day session today in the market, on one hand, Pak Rupee appreciates against the USD, and on the other hand, there is a significant positive change in the 100 Index points.

Yesterday, as reported by Mettis Global, Pakistani Rupee (PKR) appreciated to PKR 156.90/157 per USD in early trade at interbank morning, which was a jump of 32 paise from the previous closing quote of PKR 157.22 per USD. According to Mettis Global, this was the first time in nearly two months that the rate has been at this level.

The local currency opened the session at 157.10/157.20 while deals have been reported at PKR 157 per dollar. And Today, again a jump of 50 paise has been recorded in today’s early trading session, Rupee appreciates against the dollar in the two consecutive days which is a positive sign. The reason for Pak Rupee’s appreciation according to experts, is the higher supply of USD as compared to its current demand which is declining.

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