The Pakistani Rupee continued to strengthen against the mighty US Dollar, and started the currency trading session with an exchange rate of Rs285.36 in the interbank market after experiencing gains of 43 paisas, appreciating by 0.15%. On Tuesday, the Pakistani Rupee closed the day's session with a rate of Rs285.79 against the US Dollar in the interbank market after witnessing an increase of 18 paisas. It had reached an exchange rate of Rs285.60 against the mighty US Dollar in the interbank market in the afternoon after experiencing gains of 37 paisas, appreciating by 0.13%. In the morning, the Pakistani Rupee witnessed another increase against the mighty US Dollar in the interbank market and started trading at Rs285.50.

With this rate, the Rupee saw an upward trend of 0.18% in the interbank market, as it jumped by 47 paisas against the Dollar. On the first day of the new trading week on Monday, the Pakistani Rupee had witnessed further gains against the US Dollar in the interbank market and was traded at Rs285.90. Around Monday noon, the Dollar saw a drop of 60 paisas in interbank trading against the Rupee, depreciating 0.21%. The currency had closed Monday's session by trading at Rs285.97 against the Pakistani Rupee.

In the open market also, the Pakistani Rupee saw a marginal gain and was available for Rs287.50 for selling and Rs284.50 for buying. In other news, Pakistan's current account deficit improved significantly to $1.1 billion during the July-October period of the ongoing financial year, as compared to $3.1 billion during the same period last year in fiscal year 2023. Last week, the local currency had lost 25 paisas for both buying and selling against the Greenback in the open market, and closed at Rs285.25 for buying and Rs288.25 for selling, according to the Exchange Companies Association of Pakistan.

 Credit: Independent News Pakistan (INP)