Pakistani Rupee continues to gain against US Dollar

Pakistani Rupee continues to gain against US Dollar

The Pakistani rupee kept up its pace against the US dollar, strengtheningfor the sixth session in a row to close at 298.82 on Wednesday in theinter-bank market.

According to the State Bank of Pakistan (SBP), the rupee increased byRs1.07 or 0.36% at the close. The rupee has gained roughly 3% overall inthe last six sessions following last week’s record-low 307.1. The rupeegained 0.42% on Tuesday, ending the interbank market at 299.89.

Since the government declared a crackdown on hoarders and currencysmugglers last week, the currency has been on the rise, with a more markedchange seen in the open market.