Rupee ends winning streak, loses Rs1.58 against dollar


KARACHI – Pakistani rupee on Tuesday ended its four-day long appreciation streak and dropped 0.60 percent, against the US dollar in the interbank market.

The data from the country’s central bank shows local currency settled at 261.50 against the dollar, a decline of Rs1.58 in the inter-bank market.

On Monday, the Pakistani rupee gains its fourth successive gain, settling at 259.92 after an appreciation of 0.03 percent against the greenback.

State Bank of Pakistan has also called a meeting of its Monetary Policy Committee later this week as it is expected to raise the main policy rate.

The high-flying currency resumed its rally following a brief pause at the start of the week, putting it back on track to end the month with striking gain.

Rupee extends loss against dollar