The US dollar against the Pakistani rupee (PKR) recorded a fall of 3 rupees in the interbank market.
US dollar- The Greenback’s business is currently trading at Rs 161 on Saturday.
A few moments after the market opened, the US dollar was looking for buyers at Interbank on Thursday at a discounted price of Rs 167.30, a day of short business hours. But when the curtain fell in the afternoon, the rupee rose to Rs 1163.57, one of the fastest climbs in recent times.
The move comes just days after the State Bank of Pakistan announced a two percentage point reduction in key policy rates. According to a modest market move, when interest rates are reduced, the value of the rupee is more likely to fall against the dollar and many people are left wondering how the convention was denied this time.
The increase in rupee today began after the International Monetary Fund approved the US $ 1.386 billion grant to Pakistan to remove the economic woes caused by the Coronavirus pandemic.
However, the buying and selling rates of Dollar in open market were recorded at Rs161 and Rs163 according to Forex Association of Pakistan respectively.
 recorded a fall of 3 rupees in the interbank market.Currently trading at Rs 161 on Saturday.){kind=link}