Rupee continues to gain ground against dollar, closes at 218.88

The rupee appreciated by Rs3.03 or 1.38% against the dollar

Rupee continues to gain ground against dollar, closes at 218.88. Pakistani rupee on Thursday maintained its upward trajectory against the US dollar for the eighth successive session and appreciated further to close near 219 in the inter-bank market.

The rupee appreciated by Rs3.03 or 1.38% against the dollar to close at 218.88, according to the State Bank of Pakistan (SBP). Before giving up part of its intraday gain at the conclusion of the day, the rupee even reached the 217 mark.

The greenback has progressively increased in value since hitting an all-time low of 239.94 against the US dollar in the interbank market last month. Over the last eight sessions, the rupee s value has climbed by about Rs21 or 9.6%.

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Meanwhile, the currency gained 95 paisa or 0.36 against the Pound Sterling as the day s closing quote stood at PKR 267.5 per GBP, while the previous session closed at PKR 268.45 per GBP. Similarly, PKR s value strengthened by 64 paisa or 0.29% against EUR which closed at PKR 226.15 at the interbank today.

In addition to it, the local unit has also been appreciated by 1.38%, 1.30%, 1.13%, 7.97%, and 0.21%, 7.94%, respectively whereas, PKR has depreciated against JPY by 0.35% in today s session.