Rupee ascend continues as dollar slips to one-year low

KARACHI: Pakistani Rupee continued its winning streak against the US Dollar, appreciating another 42 paisas (+0.27pc) in the interbank on Friday.

This is the highest level of Pakistani Rupee against the greenback since March 9, 2020.

According to the State Bank of Pakistan, the US Dollar opened at Rs155.01 and closed at Rs154.59 on Friday. The rupee has gained Rs1.38 against the greenback this week, while it has gained Rs4.49 against the dollar since February 19.

As per currency experts, the market remained positive due to approval of foreign funding for Pakistan. The World Bank on Friday announced $1.3 billion for Pakistan, while on March 24, the International Monetary Fund had approved $500 million for Pakistan under the EFF loan programme.