KARACHI: Pakistani rupee continued making slight gains against the US dollar in the interbank market for the 11th week in a row and improved by Rs0.31, as an increase in foreign currency inflows compared to its demand kept supporting the local currency. According to details, the rupee opened at 279.90 against the greenback in the interbank market on Monday last and closed at 279.59 on Friday, registering a rise of 0.11 percent week-on-week. Overall, the local unit has improved by Rs7.44 during the previous ten weeks. Out of the last 32 sessions, the rupee has surged in 29 sessions while it remained unchanged in one session. The rupee improved by Rs8.70 during the current fiscal year 2023-24 and Rs2.27 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. The rupee has cumulatively surged by Rs27.51 (9.84 percent) in the past four and a half months compared to the all-time low of Rs307.10 per dollar touched in the first week of September 2023. Pakistani currency has hit over a three-month high against the US dollar in the inter-bank market. TLTP
