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KARACHI: Pakistan’s rupee on Monday continued its gaining streak against US dollar in the interbank market, appreciating Rs1.92 or near 0.8% in the opening hours of trade.
At around 10:55am, the rupee was being traded at 218, with appreciation of Rs1.92 or 0.88% against the greenback.
On Friday, the rupee’s winning streak against the US dollar entered the 11th session, as the rupee closed at 219.92 after appreciating Rs2.02 or 0.92%.
In the previous week, the rupee appreciated by Rs8.53 or 3.88% against the US dollar.
The recent appreciation of rupee is being attributed to actions taken by the State Bank of Pakistan (SBP) and other authorities to curb speculation in the market.
The Monetary Policy Committee of #SBP will meet on Monday, October 10, 2022 at SBP Karachi and will issue the Monetary Policy Statement through a press release on the same day.
— SBP (@StateBank_Pak) October 7, 2022
The State Bank of Pakistan is expected to announce the new monetary policy today.
This will be the first monetary policy since the appointment of Ishaq Dar as the country’s new finance czar last month and Jameel Ahmed as the central bank’s new governor in August.
