On the first day of the new trading week, the Pakistani Rupee witnessed further gains against the US Dollar in the interbank market and was traded at Rs285.90.
Around noon on Monday, the Dollar saw a drop of 60 paisas in interbank trading against the Rupee, depreciating 0.21%.
Also Read: Pakistani Rupee thrashes US Dollar in interbank trading
In the open market also, the Pakistani Rupee saw a marginal gain and was available for Rs287.50 for selling and Rs284.50 for buying.
Last week, the local currency had lost 25 paisas for both buying and selling against the Greenback in the open market, and closed at Rs285.25 for buying and Rs288.25 for selling, according to the Exchange Companies Association of Pakistan.
The Pakistani rupee continued its 'resilience' against the American currency and appreciated 0.3% during interbank trading on Friday.
On the last day of trading during the previous week, the local unit was traded at Rs286.55, with an increase of around Rs1.83 in the interbank market.
Interbank closing #ExchangeRate for todayhttps://t.co/Nj05ogm0CA#SBPExchangeRate pic.twitter.com/igTM28UWzK
— SBP (@StateBank_Pak) November 17, 2023
The rupee broke the previous downward 17-session depreciation streak and reached Rs287.38 against the US dollar on Thursday closing.
Caretaker Finance Minister Dr Shamshad Akhtar said Pakistan has inked a staff-level agreement with the International Monetary Fund (IMF) for a $700 million tranche.
