US dollar Strengthens Against the Pakistani Rupee

Pakistani Rupee

US dollar has gained strength against Pakistani Rupee on Friday. In the interbank market, the US dollar rate jumped and increased by PKR 1 and closed at Rs124.50.

US dollar varied between Rs122.50 and Rs124.50 in the open market.

On Thursday Pakistani rupee strengthened against the US dollar as the dollar declined by 31 paisa against PKR in interbank and 50 paisa in the open market.

After the dollar declined by 31 paisa in the intermarket, its value went to Rs123.40 and in the open market, it was recorded Rs121.50.

Worldwide different currencies have weakened against the US dollar especially the Turkish lira.

Read also: Pakistani Rupee Hits All-Time Low Against the UAE Dirham

The lira TRYTOM=D3 dropped to the record low of 7.24 against the dollar when the week started.

Turkish President Tayyip Erdogan said that Ankara will boycott electronic items from the USA.

Vice President Fuat Oktay tweeted, “The import duties were increased on some products, under the principle of reciprocity, in response to the U.S. administration’s deliberate attacks on our economy.”

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