Karachi: The US dollar once again took an uptick of 50 paisa against Pakistani ruppe on Monday.
The dollar closed at Rs 281 in the open market.
On the other hand, the greenback appreciated by 32 paisa against rupee in the inter-bank market while it closed at Rs 279. 12.
The current rate for US Dollar stands at Rs 278.80, as the inter-bank exchange rate saw a notable Rs 1.19 rise during the past week.
Conversely, over the past five weeks, the dollar had been consistently losing value in comparison to the Pakistani rupee.
According to the State Bank of Pakistan, on Friday, the dollar closed at 278.80 rupees in the interbank market, up from 276.83 rupees on Monday.
During the past week, the dollar saw an overall increase of Rs1.19.
For 28 consecutive business days, the dollar’s value had been decreasing against the rupee in Pakistan, dropping below 277 rupees at one point.
However, on Tuesday, the dollar’s value went up again, increasing by 20 paisas, by Wednesday the rate increased by Rs3.26.
Currency market analysts had expected the dollar to rebound after its significant drop.
However, Wednesday’s interbank income payments caused pressure on the dollar.
At the end of the business week, the dollar closed at Rs 278.80 in the inter-bank market. In the open market, the dollar remained stable at 280 rupees.
