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KARACHI: The Pakistani rupee snapped the losing streak against the US dollar as the currency remained largely stable on Thursday.
At close, the rupee settled at 294.92, an increase of Rs0.01, as per the State Bank of Pakistan (SBP).
On Wednesday, the rupee closed to its weakest level since May 11 this year against the US dollar, as it depreciated 1.16% to settle at 294.93 in the inter-bank.
In a key development, former State Bank of Pakistan (SBP) governor Dr Shamshad Akhtar was appointed caretaker finance minister.
The development comes as the process of appointing key members of the cabinet under caretaker prime minister Anwaar-ul-Haq continues amid widespread speculation.
Anwaar-ul-Haq Kakar, the acting prime minister, declared on Tuesday that the administration will maintain economic policies and work to make them even better.
Increased foreign investment through the Special Investment Facilitation Council (SIFC) will continue to be one of the government’s top priorities, according to Kakar.
