Pakistani rupee continues losing streak against USD amid stability
ISLAMABAD, Oct. 30– Pakistani rupee continues its losing streak for the sixth consecutive session against the U.S. dollar amid stability as the greenback was traded at 280.95 rupees in the interbank market on Monday, according to the State Bank of Pakistan. The U.S. dollar closed at 280.57 rupees on Friday. On the first session of the week, the local currency…
ISLAMABAD, Oct. 30 (Xinhua) — Pakistani rupee continues its losing streak for the sixth consecutive session against the U.S. dollar amid stability as the greenback was traded at 280.95 rupees in the interbank market on Monday, according to the State Bank of Pakistan (SBP).
The U.S. dollar closed at 280.57 rupees on Friday. On the first session of the week, the local currency slightly depreciated by 0.38 rupee, or 0.14 percent, against the U.S. dollar, official figures showed.
The rupee after suffering months-long volatility has now achieved stability following strict monitoring of the government authorities.
According to market analysts, the remittances from Gulf countries are likely to get back on track as the local currency has been stable for the last few weeks in the interbank and open markets after crossing the value of 300 against the greenback. Enditem