Saturday, December 2, 2023

US Dollar Dips Below 280 mark Against Pakistani Rupee after 3 months, Latest Rate Here

The US Dollar has recently dropped against the Pakistani Rupee, marking a significant shift in the exchange rate. This development comes after three months of the Dollar maintaining a higher value against the Rupee.

On Wednesday morning, the US dollar experienced a significant drop in the interbank market, losing 86 paisas to reach a value of Rs279.65. This marks the first time in three months that the dollar has fallen below the Rs280 threshold in the interbank market.

Similarly, in the open market, the US currency saw a substantial decline, dipping below the Rs280 mark to stabilize at Rs279 after a notable decrease of Rs1.

The US dollar’s value against the Pakistani rupee declined significantly on Tuesday, reaching Rs280.60, marking a substantial drop of Rs1.05 compared to the previous day’s closing rate at Rs281.65. This continued downward trend suggests changing economic dynamics, potentially impacting trade and financial markets in Pakistan.

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