The Pakistani rupee (PKR) continued to recover against the US dollar in the interbank market on Monday, extending its gains for the 23rd consecutive session.
According to the Forex Association of Pakistan, the rupee gained Rs1.29 against the US dollar and traded at Rs281.40 in the interbank.
The greenback is being sold at Rs281.85 to the importers by the banks.
In the open market, the dollar depreciated by 50 paise, standing at Rs282 in the morning trade, according to the Exchange Companies Association of Pakistan.
Read more: US dollar drops to lowest in six months against rupee
Amid a crackdown against dollar smuggling the US currency shed 5.50 rupee in interbank trading last week.
The greenback was closed at 282.69 rupee in a week. It lost 5.50 rupees in interbank trading while the greenback closed at 287.74 rupee in the previous week.
During last week, other foreign currencies also shed their value in the currency market.
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