KARACHI — Pakistani rupee extended its winning streak on the first day of the week as it appreciated marginally against US dollar in the inter-bank market.
It was the fifth week that the local unit moved up against the greenback. Data shared by central shows that Pakistani rupee settled at 283.21 after a jump of Re0.05.
In previous trading session, PKR witnessed an upward trend and it moved Rs0.61 to settle at 283.26 against the USD.
Rupee gained traction in the aftermath of staff-level agreement (SLA) between Islamabad and the IMF on the first review of the $3 billion Stand-by Arrangement (SBA).
Following the announcement, the Pakistani rupee gained Rs4.88 or around 2 percent against USD.
In open market, the local currency remained firm against USD on Monday. PKR was being quoted at 284.50 for selling and 281.50 for buying.
USD to PKR
| BID | Rs 281.50 |
| OFFER | Rs 284.50 |
Gold rates see another drop in Pakistan; Check latest rates here
