TRADE & ECONOMY

local currency settled at Rs279.34 against the US dollar

2024-02-09
 local currency settled at Rs279.34 against the US dollar

 

Following the surprising outcomes of Pakistan's General elections, the Pakistani Rupee experienced an unprecedented surge of 30 paisas against the formidable US dollar in interbank trading on Friday.

 

The new exchange rate established the US dollar at Rs279 against the Pakistani Rupee, showcasing a notable reversal ahead of the elections despite uncertainties and speculations.

 

The Election Commission of Pakistan (ECP) is currently announcing the election results.

 

As of 10 am, the rupee maintained a position at Rs279, reflecting a gain of Re0.34 against the greenback in the inter-bank market.

 

Earlier in the week, on Wednesday, the rupee had seen a slight increase, settling at 279.34 against the US dollar, as reported by the State Bank of Pakistan (SBP).