KARACHI – The Pakistani rupee strengthened for the ninth consecutive session against the US dollar, appreciating 0.3 percent in the inter-bank market on Monday.
Data shared by the State Bank of Pakistan (SBP) shows that the local currency moved up to 295.95 after a marginal increase of Rs0.9 on the first working day of the week.
Last week, the local unit gained over 2 percent in back-to-back sessions to close at 296.85 against the greenback in the inter-bank market, while the interbank.
PKR advanced its winning momentum to FIA and other agencies come down hard on smuggling, lending support to the currency markets.
In the open market, the rupee remained stable against the USD on Monday. The Pakistani rupee was quoted at 297 for selling and 294 for buying purposes for customers.
