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KARACHI, (MANEND NEWS): The Pakistani rupee inched higher by three paisas against the United States (US) dollar in the interbank currency market on Thursday.
According to the State Bank of Pakistan (SBP), the domestic unit closed at Rs178.12 against the greenback, registering appreciation of three paisas compared to the previous close of Rs178.15.
On Wednesday, the rupee had finished at Rs178.15 against the US dollar, touching a new all-time low.
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.
The central bank said all exchange companies will have to ensure that no individual purchases foreign exchange of more than $10,000 per day and $100,000 (or equivalent in other currencies) per calendar year, in the form of cash or outward remittances.