[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]For the fifth session in a row, the Pakistani rupee strengthened versus the US dollar, rising 0.36% on Monday in the inter-bank market.
According to the State Bank of Pakistan (SBP), the rupee increased by Re0.94 to close at 261.88 against the US dollar. Notwithstanding the advances, the currency has nevertheless lost 21.4% of its value against the US dollar so far this fiscal year.
The rupee gained 2.45% during the previous week to end at 262.82 against the US dollar, purportedly aided by the realisation of export revenues and a stronger inflow of remittances through legal channels.
The SBP also noted a marginal gain in foreign exchange reserves for the week, which came in at $3.19 billion.
But before the International Monetary Fund (IMF) programme is revived, the market expects any good movement in the currency to be fleeting.[/vc_column_text][/vc_column][/vc_row]
