Karachi:(Report By Rukhsar Butt) According to ug news Media Europe,The Pakistani rupee continued its upward momentum on Monday, rising by Rs1.25 against the dollar during morning trade in the interbank market.
The PKR was being traded at Rs227.2 per dollar at 12:10pm, an appreciation of 0.55 per cent from Friday’s close of Rs228.45, data shared by the Forex Association of Pakistan (FAP) showed.
Head of Research at Tresmark, Komal Mansoor, said the rupee was appreciating on the back of a “flood of positives” since Ishaq Dar took over as finance minister.
Fuel and electricity prices had been reduced while inflation in September was measured at 23.18pc compared to expectations of 27pc, she noted. Flood relief to the tune of $2-3 billion was expected to flow in the short to medium term and the parity was being managed by verbal intervention, she added.
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