In an interesting turn of events, the Pakistani rupee continues to regain its value against the US dollar after weeks of losses that also saw it cross the historic Rs300 landmark.
On Wednesday morning, the local currency gained some more strength against the mighty American currency in the interbank market.
The US dollar shed a further 89 paisas in the interbank market and was traded at Rs299 on Wednesday morning.
A short while later, the currency kept slipping below the Rs300 mark. as it lost Rs1.39 in the exchange market and was traded at Rs298.50.
As the day proceeded, the rupee lost 89 paisas, and was traded at Rs299.
In the open market, however, the rise of the rupee came to a halt once again. The local currency maintained its stability at Rs299.
On Tuesday, the Pakistani rupee continued to regain its value against the mighty American currency. The dollar had started the day by further dropping by Rs1.66 in the interbank currency market. This caused the currency to fall below the important milestone of Rs300.
The currency closed the day with a loss of Rs1.28 and was traded at Rs299.88.
Since reaching a historic peak over the past few weeks, the US currency has lost Rs7.22, according to an interbank currency dealer.
Moreover, in the open market, the dollar lost Re1 and achieved the value of Rs299. Since its historic high rate compared to the rupee, the US currency has lost Rs31 in the open market.
The mighty greenback has dropped below the significant Rs300 mark after around 20 long days in both interbank and open markets.
