(CTN News) – The Pakistani Rupee experienced a fluctuating pattern against the US Dollar, with weekly declines and a significant monthly increase.
As per the State Bank of Pakistan (SBP) reports, the value of the US Dollar decreased by 17 paisas on the last day of the business week in the currency market. However, the total decrease throughout the week amounted to 40 paisas.
In the interbank market, the US Dollar was valued at Rs284.97 on the final day of the trading week, showing a reduction of 17 paisas compared to the previous week’s closing rate of Rs285.37.
Although there was an initial increase of 10 paisas earlier in the week, the overall trend for the business week indicated a decrease of more than one Pakistani Rupee in the value of the US Dollar.
It is worth noting that this decline is a continuation of a two-week trend.
It is of utmost importance to emphasize that the value of the US Dollar has experienced a significant rise of Rs3.77 during November, ultimately reaching Rs285.17 by the 30th of November.
The fluctuations in the exchange rate between the USD and PKR serve as a clear indication of the ever-changing nature of the foreign exchange market. Numerous factors play a role in these continuous shifts in the value of the US Dollar in Pakistan.
Experts are diligently observing these developments to assess the potential impact they may have on the economic landscape of the country.