KARACHI: Pakistan’s rupee on Tuesday appreciated against dollar for the third successive session, registering 0.31% gains in the interbank.
As per the State Bank of Pakistan (SBP), the rupee closed at 219.73 after appreciating Rs0.68.
Interbank closing #ExchangeRate for todayhttps://t.co/FT3JxRrsfD pic.twitter.com/ipTrXW8tkD
— SBP (@StateBank_Pak) October 25, 2022
After gaining Re0.43 or 0.20% in the interbank market on Monday, the Pakistani rupee posted back-to-back gains versus the US dollar and concluded at 220.41. The rupee has increased by Rs1.22 or 0.56% versus the dollar in the recent three sessions.
The increase in the currency’s performance, according to experts, is the result of a shift in perception following Pakistan’s removal from the Financial Action Task Force (FATF) grey list on Friday.
Business communities applauded the move and believed that Pakistan’s removal on the grey list would usher in a period of increased exports and economic stability.
