US Dollar rises further against Pakistani Rupee
In interbank trading, the US dollar extended its winning streak by adding 22 paisas against the Pakistani rupee, reaching Rs280.80 on Monday morning. Subsequently, it experienced a further increase of 43 paisas, reaching Rs281 in the interbank market.
Furthermore, in the open market, the dollar gained Re1, settling at Rs283 on Monday morning. On the previous Saturday, the US Dollar was valued at Rs280.57, reflecting a significant Rs1.77 increase in the interbank exchange rate over the past week.
After a five-week decline in the US dollar's value against the Pakistani currency, a reversal has been observed over the last two weeks. The State Bank of Pakistan reported that on Friday, the dollar closed at Rs280.57 in the interbank market.
The US dollar had consistently depreciated against the Pakistani rupee for 28 consecutive business days, dropping below Rs277 at one point, but this downward trend reversed in the last week.