Interbank closing: Pakistani rupee resumes winning streak against US dollar

The Pakistani rupee exhibited resilience against the US dollar in the inter-bank market, marking a 0.06 per cent gain on Wednesday, reaching a settlement of Rs281.72, reflecting an increase of Re0.17, as reported by the State Bank of Pakistan (SBP). 

This positive momentum follows a slight dip on Tuesday, when the rupee settled at Rs281.89 against the US dollar.

Meanwhile, on the international front, the US dollar experienced a broad ascent on Wednesday, hovering near a two-week high against major peers. 

This surge is attributed to various factors, including elevated US Treasury yields and a cautious shift in risk sentiment that impacted Wall Street.

In another significant development, the Federal Board of Revenue (FBR) is poised to implement stringent measures targeting non-filers during the current month. 

The initial phase involves the blocking of mobile SIM cards and mobile phones for non-filers, with the issuance of the Income Tax General Order expected by January 15. 

The FBR is also formulating a strategy to disconnect electricity and gas connections for non-filers, acknowledging a current lack of comprehensive data on the electricity connections of non-filers.