Rupee snaps losing streak against dollar with 9 paisa gain


The rupee snapped the losing streak against the US dollar with a gain of 9 paisas (0.05 percent) on Thursday.

According to the State Bank of Pakistan, the US dollar opened atRs170.96 and closed at Rs170.87. Within the open market, the rupee was traded at Rs171/171.50 per dollar, showing a little improve-ment as it hit Rs172 a day earlier.

The rupee made an all-time historic low of 170.96 on Wednesday last against the US dollar. The Pakistani rupee shed Rs0.39 during the last four days against the US dollar, while depreciation dur-ing the fiscal year 2021-22 has been Rs13.45. The local unit has shed Rs10.60 against the US dollar in the current year 2021. —TLTP

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