KARACHI (Dunya News) – The downward trend in the value of the US dollar continued on Monday, while the Pakistani rupee kept gaining strength in the interbank market.
According to the State Bank of Pakistan, the dollar depreciated by one paisa against the rupee during interbank trading. With this slight move, the dollar closed at Rs280.41, compared to the previous closing of Rs280.42.
Market watchers said the gradual strengthening of the rupee shows that the tide is slowly turning in the currency market. They added that improving inflows and better market sentiment helped keep the dollar on the back foot.
Financial experts believe that if this trend continues, it could bring some breathing space for the economy and help ease import-related pressure in the coming days.