KARACHI: Pakistani rupee inched up against the US dollar in the inter-bank market on Monday and improved by two paisas. The State Bank of Pakistan (SBP) said in a tweet that the rupee opened at 279.33 against the dollar in the interbank market and closed at 279.31, appreciating by +0.01 percent. Out of the last 42 sessions, the rupee has surged in 36 sessions and lowered in five sessions, while it remained unchanged in one session. Overall, the local unit improved by Rs0.13 against the greenback last week while it gained Rs7.84 during the previous 13 weeks, which it closed on a positive note. The rupee has improved by Rs8.97 during the current fiscal year 2023-24. The local unit improved by Rs2.36 in January and Rs3.31 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. On the other hand, the local unit lost traction against the greenback in the open market. The rupee was quoted at 279.25 for buying and 281.25 for selling against 279.19 for buying and 281.19 for selling a session earlier, according to data provided by different exchange companies. TLTP
