KARACHI: Pakistani rupee on Monday registered marginal gains against the US dollar, appreciating 0.20% in the interbank.
As per the State Bank of Pakistan (SBP), the rupee closed at 220.41 after appreciating Rs0.43.
Interbank closing #ExchangeRate for todayhttps://t.co/gdADzgeA0K pic.twitter.com/6BnvqJSFqz
— SBP (@StateBank_Pak) October 24, 2022
On Friday, Pakistan’s rupee finally ended its seven-session depreciation run against the US dollar, and closed at 220.84 after appreciating Rs0.11. However, on a weekly basis, the currency depreciated by 1.1% or Rs2.41 against the US dollar, driven by uncertainties regarding foreign commitments.
According to market analysts, the strengthening in the rupee follows Pakistan’s removal from the Financial Action Task Force’s (FATF) list of countries requiring “enhanced surveillance,” often known as the “grey list,” after four years.
According to experts, the change will improve Pakistan’s image and, in the long run, enable Pakistan to draw in international investment.
