The Pakistani rupee recorded another gain against the US dollar on Monday, appreciating 0.11% at the opening of trade. The Rupee saw an increase of 30 paisas in the interbank market, and reached a value of Rs281.10. On Friday, the US Dollar wilted against the Pakistani Rupee and lost a record 37 paisas value on the last business day of the current business week in the interbank market. The new price of the American currency reached Rs281.31 in interbank trading against the Pakistani currency. Over the last week, the local currency saw a gain of 46 paisas against the US Dollar in the interbank market. The Rupee gained strength against the mighty American currency for the eighth consecutive week, reportedly on the back of a staff-level agreement (SLA) reached between Pakistan and the International Monetary Fund (IMF) on the first review of the $3 billion Stand-by Arrangement (SBA). Meanwhile, the Pakistan Stock Exchange (PSX) KSE-100 index gained 250 points and reached 64,890. The positive trend prevailed in the PSX on Friday.

Credit: Independent News Pakistan (INP)