Pakistani Rupee Breaks Winning Streak Against US Dollar

The Pakistani Rupee has broken its 11- day winning streak against the US Dollar on Wednesday as it fell during the intraday trading in both the interbank and open currency markets.

Pakistani Rupee, US Dollar, USD, PKR — Pakistani Rupee Breaks Winning Streak Against US Dollar

According to the State Bank of Pakistan (SBP), the Pakistan Rupee closed at Rs. 214.88 against the US Dollar on August 17 (Wednesday), which is a depreciation of Rs. 0.98 (0.46%) compared to August 16 (Tuesday), when it closed at Rs. 213.90 against the foreign currency.

Similarly in the open market, where the rupee had closed at Rs211 on Tuesday, it had gained another Rs3.50 to rise to Rs. 214.50 on Wednesday morning.

It is pertinent to mention that Pakistani Rupee had made a recovery of Rs. 37 against the US Dollar in the open market as well as Rs. 26 in the interbank market during the last 12 days, making it the highest performing currency of any country in the world.