The Pakistani rupee continued to appreciate in the interbank market as the dollar weakened further against the local unit for the fifth consecutive session on Thursday following newly appointed Finance Minister Ishaq Dar’s warning against manipulation of the Pakistani currency.
During the intra-day trade, the dollar traded at Rs 1.12 against the rupee and was trading at Rs 231.
According to the State Bank of Pakistan (SBP), the local unit closed at 232.12 per dollar on Wednesday after gaining 7.53 points in the current week.
Currency dealers and analysts have cited that the return of Ishaq Dar – a close aide of PML-N supremo Nawaz Sharif – as Pakistan’s finance minister has helped improve sentiment and a fall in international commodity prices. It has boosted the appreciation of the rupee.
Finance Minister Ishaq Dar on Wednesday said that no one will be allowed to play tricks with the local currency.
