PKR Recovers Nearly Rs. 16 Against US Dollar After Yesterday’s Defeat

The Pakistani rupee rose as high as 283 at 10:50 AM today as markets awaited the result of former Prime Minister Imran Khan’s court hearing.

In the first two hours of intraday activity today, the Pakistani rupee rose Rs. 15.98 to 284.5, up 5%. If the political climate cools today, traders predict the exchange rate to slip below 300.

Since January 2023, the currency has dropped Rs. 56. It fell roughly Rs. 103 against the dollar from April 2022. Today, the PKR gained roughly Rs. 16 against the dollar.

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