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[ad_1] The Pakistani rupee strengthened for the ninth consecutive session against the US dollar, appreciating 0.3% in the inter-bank market on Monday. As per the State Bank of Pakistan (SBP), the rupee settled at 295.95 after an increase of Re0.9 in the inter-bank market. During the previous week, the rupee appreciated nearly 2.1% across the five sessions to close at 296.85 against the US dollar in the inter-bank market. The currency closed positive on all five days, extending its winning run to eight successive sessions as momentum continued to favour the rupee. The change in fortune comes as authorities introduced reforms in the Exchange Companies’ sector and reportedly cracked down on smuggling, lending support to the currency markets.   [ad_2] Source link https://worldnews2023.com/business/pkr-continues-to-gain-ground-against-us-dollar-such-tv/?feed_id=327820&_unique_id=675df31d9b111

[ad_1] On Saturday, the current rate for US Dollar stands at Rs280.57, as the interbank exchange rate saw a notable Rs1.77 rise during the past week. After a continuous decline in the value of the US dollar against the Pakistani currency for five weeks, there has been a trend of increasing over the past two weeks. According to the State Bank of Pakistan, on Friday, the dollar closed at 280.57 rupees in the interbank market. During the past week, the dollar saw an overall increase of Rs1.77. The value of the US dollar had been on a downward trend against the Pakistani rupee for 28 consecutive business days, dipping below 277 rupees at one point. However, the decline in the value of the dollar stopped during the last week. Currency market analysts suggest that the dollar's value had significantly dropped, and a recovery was expected. However, pressure on income payments in the interbank market emerged last Wednesday. The increase in the value of the dollar in the world ...