Likewise, in the open market, the rupee gained 70 paisa against the greenback
with slight fluctuation in the whole week and settled at Rs157.20.
In the earlier weeks, the rupee had been observed to cumulatively depreciate against the greenback
, which in turn had resulted in increased prices of goods and hardships for the general public.
continued to gain strength against the Pakistani rupee in the open market last week.
Currency dealers, who are reluctant to sell the greenback
due to declining value of local currency, said that people want to buy dollars to save their reserves and get profits.
On Thursday, the Pakistani rupee slid down by Rs0.54 against the greenback
. The US dollar was being traded at Rs152.10 in the interbank market yesterday.
Some sources in the market said that the State Bank of Pakistan's (SBP) off the record warning to commercial banks against unnecessary acquiring of the dollar also played its role in bringing the value of the greenback
KARACHI -- The Pakistani rupee continued its slow but steady recovery against the US dollar on Monday as the greenback
fell by Rs1.16 at interbank to close the day at Rs149.74.
Summary: Asian currency weakens amid a strengthening greenback
and fresh capital outflows
increased by Rs1.43 after initially rising by Rs1.57 and was being traded at Rs133.40 after closing at Rs131.97.
On Tuesday morning, the Indian currency plunged to 70.08 -- the lowest ever -- against the greenback
. However, a likely intervention by the Reserve Bank of India and stabilisation in the global currency markets pared the rupee's early fall.
The dollar index, which measures the greenback
against six major peers, fell 0.15 percent to 95.217 at 3:00 p.m.
The ringgit was slightly higher against the US dollar in the early session as investors' interest shifted away from the greenback
due to uncertainty over potential political risks, dealers said.
has also seen fresh lows versus the various Asian currencies, and the South African rand.
Sterling was up 0.6 per cent against the greenback
at 1.32 and 0.3 per cent higher versus the euro at 1.135, with the Bank's Monetary Policy Committee (MPC) stating in September that "some withdrawal of monetary stimulus was likely to be appropriate over the coming months".