USD to PKR: Pakistan rupee ends losing streak, gains 0.03pc against US dollar in inter-bank

KARACHI – Pakistan’s rupee ended its losing streak against the US dollar as it registered a slight appreciation of 0.03 percent in the inter-bank market on Thursday.

During the intra-day trading, the local currency was hovering at 282.76, an increase of Re0.09 against the greenback in the inter-bank market.

Earlier this week, the Pakistani rupee remained under pressure against the high-flying dollar, settling at 282.8, with a decline of Re0.56 or 0.2%.

The rupee has not gained any big momentum against USD in recent times as Pakistan failed to salvage the IMF bailout package despite months-long negotiations. Despite the economic uncertainty, Prime Minister Shehbaz Sharif pinned hope that a staff-level agreement with the International Monetary Fund (IMF) would be reached in the next few days.