[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]In the Pakistani interbank market, the rupee experienced a slight 0.11% decline against the US dollar on Monday. According to the State Bank of Pakistan (SBP), the rupee depreciated by Re0.32, closing at Rs279.12. This follows the previous week’s performance when the rupee reversed recent gains against the US dollar, closing at 278.80 in the interbank market, marking a 0.42% decrease week-over-week.
Currency traders attribute the rupee’s decline to increased demand for the US dollar for international payments.
Read more : Dollar Falls After 2-Day Gain Against Rupee
In the open market, the Pakistani rupee also lost ground against the US dollar. Currency brokers reported the rupee’s trading at 281 while being purchased at 278.
Over the past week, the PKR lost 3.50 rupees against the USD for both buying and selling, concluding at 277.50 and 280.50, respectively.
It’s worth noting that the Pakistani rupee had an impressive 28-session winning streak, one of the longest streaks in recent history. Since hitting its interbank market record low of 307.1 on September 5, it has appreciated by a total of 10.93%.[/vc_column_text][/vc_column][/vc_row]
