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Rupee is on an Unusual 64-Day Winning Streak And Nobody ‘Cares’

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Legal Editorial Desk
Rupee is on an Unusual 64-Day Winning Streak And Nobody ‘Cares’
The Pakistani rupee (PKR) closed in green against the US Dollar (USD) after 64 days on Monday. Meanwhile, it posted losses against most of the other major currencies during today’s session. The PKR closed at 280.22 after gaining three paisas against the US Dollar today. The PKR was red against most of the other major currencies in the interbank market today. It ended on a positive note for the UAE Dirham (AED) but negative for the Saudi Riyal (SAR). “It’s at that point of growth that nobody seems to care anymore. For over a year, the rupee has gained a few and lost a few against the dollar, but the range has always been smaller. People have shifted focus towards commodities now,” a day trader informed ProPakistani. Meanwhile, it lost 14 paisas against the Canadian Dollar (CAD).
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Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.

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