KARACHI: Pakistani rupee snapped a nine-day winning streak against the US dollar in the inter-bank market on Tuesday and depreciated by one paisa. The State Bank of Pakistan (SBP) said in a tweet that the rupee opened at 280.24 against the dollar in the interbank market and closed at 280.25, losing one paisa on a day-on-day basis. Overall, the local unit improved by Rs1.04 against the greenback last week while it has gained Rs6.67 during the previous nine weeks. Similarly, the rupee improved by Rs8.04 during the current fiscal year 2023-24 and Rs1.61 in the current year. The rupee gained Rs3.31 against the US dollar in December, while it shed Rs3.69 against the US dollar in November after gaining Rs6.26 (+2.23 percent) against the greenback in the month of October. The currency surged more than 6 percent in September. On the other hand, the local unit edged up against the greenback in the open market. The rupee was quoted at 279 for buying and 281 for selling, according to data provided by different exchange companies. The rupee gained Rs3.50 against the greenback in December while it surged by 50 paisas against the greenback last week. TLTP
