USD to PKR: Rupee’s winning streak continues against the dollar

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ISLAMABAD – Pakistani rupee strengthened on Wednesday against the US dollar, continuing its winning momentum as Islamabad expects to conclude talks with the IMF over a staff-level agreement this week.

During interbank trading, the local currency appreciated by 0.26 percent in the opening hours of trading. The dilapidating currency was quoted at 261.82, with an increase of Rs0.69 against the greenback.

On Tuesday, the rupee’s upward trajectory came to an end after moving positively for five days; it settled at 262.51 with a slight downgrading.

Experts however hinted at further strengthening of the currency in coming weeks as the crisis-hit country is set to conclude talks with the International Monetary Fund over a staff-level agreement soon.

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