Rupee continues winning streak against USD

KARACHI: The Pakistani rupee continued to appreciate against the US dollar in the interbank market on Wednesday, ARY News reported quoting SBP.

According to the SBP, the USD depreciated by 17 paisas in the interbank market to close at Rs281.72.

The greenback is being sold at Rs283.50 in the open market, said forex dealers.

Trading was relatively subdued, with Japanese markets shut for a holiday and investors waiting for important U.S. economic releases later in the day, including minutes from the Federal Reserve’s December meeting.

The euro was last down 0.2% against the dollar at $1.092, its lowest since Dec. 19. It fell 0.95% on Tuesday in its biggest daily drop since July.