Rupee extends winning streak against dollar, gains Rs7.5

Gains by 0.36% in the interbank market on Monday
Feb 20, 2023
<p>Digital Art: Mussab Iqbal</p>

Digital Art: Mussab Iqbal

The rupee continued its streak of gains against the US dollar on Monday as it appreciated by 0.36% in the interbank market on Monday.

According to data released by the State Bank of Pakistan (SBP) on the first day of the trading week on Monday, the rupee gained by 94 paisas (Rs0.94).

As a result, the rupee appreciated from Rs262.82 – the level at which it closed last week and opened the trading week on Monday morning.

By the end of the trading day, the rupee had appreciated to Rs261.88.

Thus far, the rupee has appreciated by Rs7.56 from last week when it fell to a low of Rs269.44.

Open market

In the open currency market, the dollar appreciated by a rupee to improve its standing to Rs265.

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