Rupee maintains winning streak against US dollar

Karachi:  Pakistani rupee maintained is winning streak for the third day against the US dollar in the interbank markets on Friday.

The rupee continued to gain value as continuous supply backed it against the comparatively low demand in the system in the currency market.

The latest reports suggested that the local rupee gained 0.36% against the US dollar after a hiatus of 20 days in the interbank market

The state Bank of Pakistan said that the rupee closed at Rs259.99 and the currency regained 0.96% (or Rs2.52) in the past three consecutive working days.

Interbank closing #ExchangeRate for todayhttps://t.co/WJ7qRDtYVK pic.twitter.com/l04f3rrws6

— SBP (@StateBank_Pak) February 24, 2023

Earlier, the markets witnessed that the dollar was withheld in anticipation of more depreciation of the local currency while exporters now were selling the dollars amid rupee’s appreciation in the market.