Pakistani Rupee Strengthens Further Against US Dollar
Karachi (Qudrat Daily) — The **Pakistani rupee continued to strengthen against the US dollar** for the 58th consecutive day in both interbank and open currency markets.
According to *Express News*, factors contributing to the rupee’s appreciation include **rising foreign exchange reserves, steady growth in remittances, Pakistan’s emerging role as a key partner for the United States, and a planned $7 billion investment in the Reko Diq copper project** supported by the International Finance Corporation and the US EXIM Bank.
Following the **release of IMF funds**, Pakistan’s **balance of payments improved**, further boosting foreign reserves. In the interbank market, the dollar experienced fluctuations but overall **declined by up to PKR 0.25, reaching PKR 280.11 at one point**. By the close of trading, improved supply and higher demand saw the **dollar fall another PKR 0.04 to PKR 280.32**.
In the **open market**, the dollar also decreased by PKR 0.04, closing at **PKR 281.36**.
Additional factors supporting the rupee include **Pakistan’s GDP growth of 3% this year, gradual increase in exports, the State Bank’s biometric system upgrades for exchange companies, and strict measures against illegal currency activities**, all of which have positively influenced the foreign exchange markets.
