Stories

Rupee dips slightly but largely stable

Although Pakistani currency dipped slightly, it remained largely stable at Rs279.33 against the US dollar in the inter-bank market on Monday as heightened political turmoil in the country following general elections did not leave a large impact on the currency.

According to SBP data, the rupee ticked down 0.02%, or Rs0.03, against the greenback on a day-on-day basis, ending its three-day winning streak. The currency market came under moderate pressure, though the central bank reported improvement in workers’ remittances to $2.4 billion for January 2024. It indicated that the supply of foreign currency remained better in the inter-bank network.