KARACHI: In the interbank currency market on Thursday, the Pakistani rupee edged higher by three paisa against the US dollar.
The local currency closed at Rs178.12 against the greenback, up to three paisa from the previous close of Rs178.15, according to the State Bank of Pakistan (SBP).
The rupee hit a new all-time low against the US dollar on Wednesday, finishing at Rs178.15.
Last week, the State Bank of Pakistan (SBP) tightened the rules governing the sale and purchase of foreign exchange in an effort to discourage “speculative” buying and selling of the US dollar.
All exchange companies will have to ensure that no individual purchases more than $10,000 in foreign exchange per day and $100,000 (or equivalent in other currencies) per calendar year in cash or external remittances, according to the central bank.
