Dollar slips again in interbank market as downward trend continues
Business
The Pakistani rupee strengthened slightly on Tuesday as the US dollar dipped by one paisa in the interbank market, continuing its gradual downward slide.
KARACHI – The downward drift in the US dollar’s value against the Pakistani rupee continued in the interbank market on Tuesday, giving the local currency a small but welcome boost.
According to the State Bank of Pakistan, the dollar closed at Rs280.46, slipping by one paisa by the end of the trading session. A day earlier, the interbank rate had settled at Rs280.47.
Market observers say the movement is minor, but it shows the rupee is holding its ground. As traders put it, the currency market is moving inch by inch, reflecting stable demand and supply conditions.
While the change is small, analysts note that even “every little bit helps” as Pakistan aims to keep the exchange rate steady and maintain market confidence.
