The Pakistan Rupee (PKR) continued its upward journey in opposition to the US Greenback (USD) on the second day of the week. This marks the fifth consecutive day of enchancment for the rupee in opposition to the dollar.
The rupee appreciated by 12 paisas in opposition to the USD within the interbank forex market at present, closing at Rs. 153.24 to the USD on the finish of the buying and selling day at present (Tuesday, four Might) in comparison with Rs. 153. 36 to the USD on Monday (three Might).
Market analysts mentioned merchants are within the favour of going lengthy on the rupee, principally resulting from expectations of upper remittances and Ramazan-related inflows.
Sellers added that inflows from remittances are stopping the rupee from any main fluctuation.
Towards different main currencies, the Pakistani Rupee noticed a optimistic day within the interbank forex market, with blanket features in opposition to all currencies, besides a lack of 23 paisas in opposition to the Pound Sterling (GBP).
PKR gained 46 paisas in opposition to the Euro, 24 paisas in opposition to the Australian Greenback (AUD), and 25 paisas in opposition to the Canadian Greenback (CAD).
The PKR additionally posted features in opposition to the UAE Dirham (AED) and the Saudi Riyal (SAR) within the interbank market at present, appreciating by three paisas in opposition to each the currencies.