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Dollar Flight Comes To Halt As It Prices Depreciate Both Inter-bank and Open Markets

KARACHI: The rupee gained 2.63 against the dollar to reach 237.02 in inter-bank market., according to the State Bank of Pakistan (SBP), up in value from the previous session’s close of 239.65

The Pakistani rupee gained ground against the US dollar as the week’s trade started Monday after the local unit suffered consecutive losses during several previous sessions.

According to data released by the State Bank of Pakistan (SBP) on Monday afternoon, the rupee appreciated by 1.11%, gaining Rs2.63.

On Friday, the rupee had closed at Rs239.65. But on Monday, the rupee strengthened to Rs237.02.

In the open currency market, the rupee gained around Rs6.5 against the dollar.

As a result, a single US dollar was being sold for Rs238.