PKR continues to weaken dollar in interbank, open market
Business
The greenback has so far lost Rs46.50 since its peak
KARACHI (Dunya News) - The Pakistani rupee is continuing its upward trajectory against the US dollar in the interbank and open markets today.
During intra-day trading, the dollar lost Rs0.88 against rupee and was being traded at Rs286.90 in the interbank market and Rs286.50 after Rs1.50 loss in the open market at 11am.
During the previous week, the local unit improved another 1.4 per cent to settle at 287.74 against the greenback in the inter-bank market, extending its winning run to 17 successive sessions.
The greenback has lost Rs46.50 since its peak.
The local unit has witnessed visible strength in the backdrop of a countrywide crackdown against dollar smuggling and controls on the Exchange Companies (ECs) sector.
According to Bloomberg, the rupee turned the best-performing currency in the world in September this year. The PKR closed the month with a gain of 6.2 per cent.
