Pakistani Rupee register gains against US Dollar
The Pakistani rupee (PKR) continued its upward trajectory against the US dollar, marking the fifth consecutive session with an appreciation of Rs0.18, closing at Rs285.79, according to ARY News.
The State Bank of Pakistan (SBP) reported that on the second day of the business week, the rupee gained Re0.18 to conclude at Rs285.79 in the interbank. The previous day's closing saw the greenback at Rs285.87. In the preceding week, the rupee ended its losing streak by climbing 0.18% or Re0.53 to settle at 286.50 against the US dollar in the interbank market on Friday.
Market experts attribute the rupee's strengthening to the agreement between Pakistan and the International Monetary Fund on the first review of the 9-month SBA.