Rupee Rises for Third Straight Day as US Dollar Declines Sharply
Over the past three days, the dollar has weakened by Rs1.50 in the interbank market
Islamabad-(Mudassar Iqbal)-The Pakistani rupee maintained its upward momentum for the third consecutive day on Friday, buoyed by a sharp decline in the US dollar across both interbank and open markets.
By the close of the week’s final trading session, the dollar had dropped by 72 paisas in the interbank market, settling at Rs283.50. In the open market, it slipped by another one rupee, falling from Rs287.60 to Rs286.60.
Currency Rates in Pakistan Today – US Dollar, Euro, Pound, Riyal – 24 July 2025
Over the past three sessions, the US dollar has depreciated by Rs1.50 in the interbank market and by Rs2.30 in the open market.
Malik Bostan, Chairman of the Exchange Companies Association of Pakistan (ECAP), attributed the rupee’s gains to increased dollar selling by exporters anticipating further depreciation. He advised importers to avoid panic buying, predicting that the greenback could fall further to Rs280 or even Rs270.
Bostan further stated that ongoing crackdowns against the illegal hawala and hundi networks, coupled with the State Bank of Pakistan halting dollar purchases from the interbank market, would likely drive the greenback’s value down even more in the coming days.
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