Pakistani Rupee (PKR) achieved considerable gains against the US Dollar (USD). The day began with an interbank rate of 305 PKR to 1 USD, but as the hours passed, it became clear that the PKR was on a bullish path.
The PKR had risen to an amazing high of 303 PKR to 1 USD by the time the clock struck noon. This spike represented an increase of nearly Rs. 3 against the US dollar, sending positive waves across the financial markets.
The interbank rate stabilized in mid-afternoon, between 1:30 PM and 2:30 PM, at roughly 302 PKR to 1 USD. This level of stability was a welcome development, as it provided a sense of reassurance to traders.
The rise from an opening rate of 305 PKR to 1 USD to a top of 303 PKR demonstrated the currency’s ability to hold its ground and even make developments in the face of adversity.