28-Day Winning Streak of Pakistani Rupees Against the US Dollar Comes to an End. After a remarkable 28-day run of gains, the Pakistani Rupees strength against the US Dollar has finally subsided. The latest exchange rates reveal a shift in favor of the Dollar, bringing about a notable change in the currency market landscape following an extended period of Rupee dominance.
Currency exchange rates are influenced by a multitude of factors, such as economic conditions, global trade dynamics, and geopolitical events. These elements play a pivotal role in determining the value of a currency, and the specific rate fluctuations are contingent on these factors and market sentiment.
On Tuesday, the Pakistani Rupee (PKR) saw its 28-day appreciation streak against the US Dollar come to a halt, as it weakened by 20 paise. During the interbank session, the Rupee settled at a rate of PKR 277.03, a departure from the previous day’s closing rate of PKR 276.83.
In the interbank market, the Pakistani Rupee (PKR) exhibited an intraday high (bid) of 277.2 PKR against the US Dollar and a low (ask) of 275.75 PKR, indicating notable fluctuations in currency trading throughout the day. Meanwhile, in the open market, the PKR demonstrated a relatively steady performance, with exchange companies quoting a buying rate for the US Dollar at 274 PKR and a selling rate of 277 PKR.
