KARACHI: Snapping its 17-day long losing streak on Thursday, Pakistani rupee recorded gains against the US dollar in the inter-bank market and improved by 76 paisas (+0.28 percent). This improvement came a day after the government and the International Monetary Fund (IMF) reached a staff-level agreement that paved the way for Pakistan to receive $700 as part of the stand-by agreement. The State Bank of Pakistan (SBP) said that the rupee opened at 288.14 against the dollar in the interbank market and closed at 287.38. The rupee depreciated by Rs2.72 last week. On the other hand, the rupee has appreciated by Rs0.61 during the current fiscal year 2023-24 and Rs55.70 in the current year. The rupee gained Rs6.26 (+2.23 percent) against the greenback in the month of October. The currency surged more than 6 percent in September to become the top performer in the world. TLTP
