Pakistani Rupee Makes A Huge Recovery Against the US Dollar in a Single Day

Pakistani Rupee has shown a reverse movement once again, gaining almost one rupee against the US Dollar.

PKR closed at Rs. 160.08 on Tuesday (November 24) against the USD as compared to 161.04 on Monday in the interbank market, gaining 96 paisas.

PKR has been losing against the USD for several days. However, today the rupee has posted a significant gain, and not just against the USD, but also other main currencies.

On November 24, PKR gained Rs. 1.04 against Euro, 95 paisas against GBP, 19 paisas against the Australian Dollar, and 46 paisas against the Canadian Dollar.


Current Account Surplus Records its Highest Positive Spell in 15 Years

Malik Bostan, Chairman of Exchange Companies Association of Pakistan (ECAP), said,

Rupee, once again, strengthened against the Dollar as the supply of the greenback improved in the market. Rupee faced a brief pressure, which declined its value, due to a sudden demand of the USD from the importers who opened LCs in quantum in the past couple of days. However, the demand fell again in the market, which appreciated Rupee again.

Renowned money exchanger, Zafar Paracha, told ProPakistani,

Rupee will further strengthen because of the stabilized supplies of Dollar in the local market.

The demand for the Dollar is projected to remain controlled now, with no foreseeable major hike as per the payment scheduled by the government and the importers, said Paracha.

He further added that the Pakistani Rupee has become strong against the Dollar, however, speculators’ movement caused a spike in demand, which was witnessed recently. Nevertheless, the policies of the State Bank of Pakistan (SBP) to maintain the demand for the Dollar are quite laudable.

  • ONLY fools will keep their savings in $. A sane person should get ready for 15 rupees to one$ rate down the road. Trust me that’s coming sooner than later. Keep dreaming for 200 to one $.
    Long live Pakistan

  • U-turns in rate continuously so stop making news out of it as U Turns in headlines daily.
    The only U Turn not happening is in GDP growth rate which make sense under this terrible government.

  • It’s all ruse because in the beginning dollar was growing 10/15 rupees and now it’s going down paisa and sole one rupee . Don’t trust they are betraying Pakistani nation . Due to alot of loss many people have left business that’s why they play with tact

  • Soon a dollar will reach at hundred and then below hundred.,… Our exports have increased significantly…and this export will be a game changer

  • Insha Allah, very soon Dollar will come at the 90 rupees, and who wants to earn the profit through the dollar they will very soon falling face down in that greed of profit.

  • We need stable currency. An appreciation of currency would negatively effect export whereas a depreciation could slow down large scale manufacturing

  • Dollar will surely go down over time. Everyone commenting on dollar U-turn and going up are ignoring the situation with COVID-19, which is affecting economies worldwide. We are still in better shape, appreciate what needs to be appreciated.

  • Dollar will rise to RS 200 against Pak Rupees at the End of December 2020 ……
    Pakistan Tabah dy…. hahaha

  • close