Islamabad [Pakistan], September 23: The Pakistani rupee continued its upward trajectory against the U.S. dollar for over two weeks, as the greenback was traded at 291.76 rupees in the interbank market on Friday, according to the State Bank of Pakistan.
The U.S. dollar closed at 292.78 rupees on Thursday. On the last session of the week, the local currency appreciated by 1.02 rupees, or about 0.35 percent, against the U.S. dollar.
This is the 13th consecutive session for the rupee to witness appreciation.
Cumulatively, the rupee has appreciated about 5 percent since it touched a record low of 307.1 on Sept. 5.
According to market analysts, a strong crackdown by the government against foreign currency hoarders resulted in the strengthening of the local currency.
Source: Xinhua
