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The Pakistani rupee continued to strengthen in opposition to the US greenback, gaining 0.40% through the opening hours of buying and selling within the inter-bank market on Monday.
At 11:05am, the rupee was hovering at 286.60, a rise of Rs1.14, within the inter-bank market.
In the course of the earlier week, the rupee improved one other 1.4% to settle at 287.74 in opposition to the US greenback within the inter-bank market, extending its successful run to 17 successive classes.
The outstanding enhance, which comes largely on the again of a crackdown in opposition to smuggling and controls on the Change Corporations (ECs) sector, additionally meant the rupee was the best-performing foreign money on the earth in September. It closed the month with a acquire of 6.2%.
The efficiency is in stark distinction to total depreciation within the first eight months of 2023, which stood at practically 26%.
Globally, the US greenback kicked off the final quarter of the 12 months on the entrance foot on Monday because the prospect of higher-for-longer US charges offered stable assist, pushing the yen to an 11-month low.
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