Dollar down by Rs1.77 in two days, Rs159.28 is the new rate
Continuing with the previous day’s momentum, Pakistani Rupee gained another 81 paisas against the United States Dollar (USD) in the interbank on Wednesday.
According to a State Bank of Pakistan (SBP) tweet, USD opened at Rs160.09 and closed at Rs159.28. The local currency had gained Re0.96 against the greenback on Tuesday.
Interbank closing #ExchangeRate for today: https://t.co/rBX6Fdhgwy pic.twitter.com/0RUv9d2SaT
— SBP (@StateBank_Pak) November 25, 2020
Money dealers in the market attributed this rally of rupee against USD to encouraging economic indicators as well as the global downfall of the greenback. On the other side, they added, importers are being careful in buying goods from their foreign suppliers owing to the second wave of COVID-19.
On Tuesday, rupee had weakened against USD. The buying rate of USD was Rs160.4 while it was sold at Rs161.2 at the opening of trading in Pakistan’s currency market on November 24.
Other currency rates had then been recorded as follows:
| Currency | Buying | Selling |
| Australian Dollar | 116 | 118 |
| Canadian Dollar | 121 | 123 |
| China Yuan | 24.45 | 24.6 |
| Euro | 188.5 | 192 |
| Japanese Yen | 1.55 | 1.58 |
| Saudi Riyal | 43 | 43.5 |
| UAE Dirham | 43.55 | 44 |
| UK Pound Sterling | 212.5 | 215.5 |
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