KARACHI: The Pakistani rupee (PKR) continues to strengthen as the US dollar (USD) reached its lowest point in six months.In the midst of efforts to combat dollar smuggling, the US currency lost 5.50 rupees in interbank trading this week.
The greenback concluded the week at 282.69 rupees, marking a 5.50 rupee decrease in interbank trading compared to the previous week's closing rate of 287.74 rupees.
In the open market, the US dollar declined by 6.50 rupees, closing at 281.50 rupees, down from the previous rate of 288 rupees.
Over the past few weeks since the start of September, the US currency has been consistently depreciating against the Pakistani rupee in the open market.
Other foreign currencies are also losing value in the currency market, in line with the trend seen with the US dollar. Euro, for instance, dropped by 8 rupees in a week, going from 306 to 298 Pakistani rupees.