ISLAMABAD: After getting a meager gain of Rs 0.12 the other day, the Pakistani rupee remained stable on Tuesday while gaining Rs 0.01 or appreciating of 0.004% in the inter-bank market against the American dollar on Tuesday.
At the closing of the day, the local currency settled at Rs 284.96 against Rs 284.97 the previous day.
The last couple of weeks witnessed the Greenback as under pressure due to pressure on US economy amid intensified political and fiscal differences between Democrats and Republicans.
Apart from the US dollar, other international currencies also responded the same way to the local currency with meager changes.
Strengths and Weaknesses of Pakistani Rupee
Meanwhile, the local currency also remained under pressure from the last couple of months, where the last week observed its highest-ever depreciation of Rs 299 against the American dollar.
However, the last couple of days witnessed a slight improvement in the Pakistani Rupee, bringing it down under Rs 285.
Moreover, the country’s ongoing political and financial unrest has confined the local currency towards depreciation.
According to financial experts, Pakistani Rupee would suffer fluctuation unless the incumbent government comes up with concrete measures.
