KARACHI: The Pakistani rupee on Thursday continued its gaining streak against the US dollar, appreciating for the seventh consecutive session to close at 297.96 in the interbank.
At close, the rupee was up Rs0.86 or 0.29%, as per the State Bank of Pakistan (SBP). Cumulatively, the rupee has appreciated over 3% in the last seven sessions after it hit a record low of 307.1 last week.
Interbank closing #ExchangeRate for todayhttps://t.co/vzWPNE83s0#SBPExchangeRate pic.twitter.com/jNNfdlVkfv
— SBP (@StateBank_Pak) September 14, 2023
On Wednesday, the rupee had appreciated 0.36% to settle at 298.82.
Since the government declared a crackdown on hoarders and currency smugglers last week, the currency has been on the rise.
Globally, the US dollar remained below a three-month high against the euro on Thursday as focus shifted to the European Central Bank’s rate-setting meeting later in the day. US inflation data had failed to sway opinions that the Federal Reserve will hold off on raising interest rates next week.
