The Pakistani rupee rises against the US dollar.
The American currency quickly lost Rs1.19 as trading began, despite trading in a positive range the day before. At the time of writing, the US dollar was trading at Rs206.75.
The US dollar closed at Rs207.94 on Monday, an increase of 48 paisas. Previously, the Pakistani rupee had pounded the US dollar, trading at Rs206.50 in the interbank market, an increase of 73 paisas against the greenback.
While the Pakistani rupee was in flux on Friday, it had lost 25 paisas to the US dollar after a healthy gain of Rs4.70 on the back of good economic news.
The dollar appeared to regain strength in Friday’s trading activity, rising by Rs1.27 to Rs208.50. However, the greenback only gained 25 paisas, ending the day at Rs207.48.
Pakistani rupee rises against US dollar. The United States dollar (USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries.
The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.
