As the dollar falls 4 paisas in the interbank market, the rupee gains ground.

As the local currency gained a little momentum in the interbank market on Thursday, the Pakistani rupee continued its upward trajectory versus the US dollar.
The dollar dropped 4 paisas during the day’s trade, closing at Rs280.92 as opposed to Rs280.96 the day before.

Currency dealers noted that despite strict monetary controls by the State Bank of Pakistan, the rupee’s sustained performance is a result of improved foreign inflows and stable demand for the US dollar.

Despite the small shift, market analysts said it contributes to the continued steadiness observed in previous weeks. According to one analyst, “the rupee appears to be holding its ground, and minor gains like this show growing confidence in the market.”

Despite the unpredictability of the world economy, the local currency has shown resilient, and dealers are optimistic that the rupee will maintain its current course in the foreseeable future.