Rupee's winning streak continues, closes at 213.98 against US dollar

Business

15 August,2022 04:56 pm

KARACHI (Dunya News) - The Pakistani Rupee (PKR) on Monday continued its winning streak in the interbank against the US dollar.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs213.98 per dollar, up Rs1.51 or 0.71 per cent.

On Friday, the rupee appreciated by Rs3.39 or 1.57% against the dollar to close at RS215.49.

It is pertinent to mention here that the US dollar traded at a record high rate of Rs239.94 in the interbank on July 28, 2022.

Mettis Global Director Saad bin Naseer said the local currency had risen because dollars were flowing into the country, adding that more inflows were expected.

Exporters, who had been holding their dollars abroad, were also bringing them into Pakistan sooner because the greenback was depreciating quickly, he added.