KARACHI – Pakistani rupee continued its losing streak for the fourteenth consecutive session, hitting nearly a month low against the US dollar in the interbank market.
On Friday, the State Bank of Pakistan reported another drop, equivalent to Rs0.13, bringing the rupee’s value to Rs287.03/ dollar in the last session of this week.
In the previous session, PKR further moved down and settled at 286.90 against the greenback.
The situation remained the same in the open bank market, as the rupee registered a marginal decline. During the intra-day trading, the local unit was quoted at 288 for selling and 285 for buying.
In the global market, the USD continued toward its best week against the yen in recent times today.
As the local currency remains under pressure, Pakistan Stock Exchange (PSX) maintained its bullish trend and KSE-100 index crossed 55,000 points mark to hit an all-time high level.
KSE-100 index went up by 841 points t0 55,102 points during intraday session, achieving the new milestone.
