The Pakistani rupee recorded a marginal gain against the US dollar in the inter-bank market on Tuesday, extending its winning streak to 13 consecutive sessions.
At the close, the local currency settled at 281.86, up by Re 0.01 from Monday’s closing of 281.87, according to State Bank of Pakistan (SBP) data.
Although the appreciation was modest, analysts said the rupee’s sustained upward momentum reflects improved market sentiment, supported by a continuing crackdown on illegal currency dealers and smuggling operations.
The rupee has been trading with relative stability in recent weeks, with law enforcement measures helping curb speculative activity and narrowing the gap between open-market and inter-bank rates.
Market participants said the stability of the local unit, combined with stronger foreign exchange reserves and tighter regulatory oversight, is providing confidence to traders and importers ahead of upcoming external debt repayments.
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Rupee strengthens from 282 to 282
But depreciated from 193 to 284 in 2 years
Itni Badi jump ki hai bsdk
SBP should buy more dollar to strengthen it’s reserve and save depreciation of dollar. We apprehend if rupee gained more it will lead to higher imports.