The Pakistani rupee continued its upward trend against the US dollar in both the interbank and open markets on Monday. In intraday trading, the rupee strengthened by Rs2.45, reaching Rs300.50 in the interbank market.
Meanwhile, in the open market, the US dollar slipped below the Rs300 mark, being traded at Rs299. This has fueled optimism that the rupee’s value will continue to rise.
This positive momentum follows the previous Friday’s drop of the US dollar to 302.95 in the interbank market, a decline of Rs1.99 against the rupee.
The recent strengthening of the Pakistani rupee is attributed to the strong stance taken by the country’s top civil and military leaders, who are committed to fostering socioeconomic growth through the Special Investment Facilitation Council (SIFC).
This commitment has instilled confidence in the currency’s performance, and investors are hopeful for further gains.
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