The Pakistani Rupee maintained its upward climb against the US Dollar, and was traded in the morning at Rs284.75 in the interbank market on Thursday after experiencing an increase of 38 paisas. The Dollar depreciated by 0.13% in the currency exchange market on Thursday morning. On Wednesday, the Pakistani Rupee continued to strengthen against the mighty US Dollar for the fifth consecutive time, and was traded at Rs285.13 in the interbank market after experiencing gains of 66 paisas. As per the State Bank of Pakistan, the Rupee appreciated 0.23% at the close of the trading session on Wednesday evening.

The local currency continues to strengthen against the Greenback, and started the currency trading session on Wednesday 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. 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)