Rupee strengthens against US dollar

KARACHI: The Pakistani rupee strengthened against the United States (US) dollar in the inter-bank currency market on Friday.

The local currency finished at Rs165.62 against the greenback, appreciating 19 paisas over the previous close of Rs165.81, according to the State Bank of Pakistan (SBP).

Interbank closing #ExchangeRate for today:https://t.co/i2HGMH1igC pic.twitter.com/sfxNesjfJI

— SBP (@StateBank_Pak) August 27, 2021

On Wednesday, the US dollar jumped to an 11-month high against the rupee as it saw an increase of Rs1 in the interbank and was traded at Rs166.20.

The Pakistani rupee had touched an all-time low of 168.43 against the greenback last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April 2021.

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