KARACHI: The rupee continued its winning streak for the seventh session in a row gaining 24 paise against the US dollar in the interbank market on Wednesday.
However, the local currency’s performance remained unimpressive as it appreciated by just Rs1.50 in the last seven trading sessions.
Some senior bankers say the exchange rate stability is good for attracting foreign investments and supporting economic growth.
The SBP reported the dollar closing price at Rs284.14 compared to Rs284.38 a day before.
Bankers said influencing rupee-dollar parity through verbal instructions by the State Bank is a settled practice in the interbank market, which has resulted in a kind of stability with slow imports and better inflows of export proceeds.
Published in Dawn, December 7th, 2023
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