The US dollar has been steadily appreciating against the Pakistani rupee for eight consecutive days, showing a continued upward trend in its value. On Tuesday, the currency further strengthened in the interbank market.

At the start of the daily trading session in the interbank market, the American currency gained Rs1.8, reaching a value of Rs289 against the local currency. Over the course of the last eight days, the US dollar has gained Rs12.50 against the rupee in the interbank market.

Interestingly, on Monday, despite receiving financial support from the International Monetary Fund (IMF) and other friendly countries, the Pakistani rupee depreciated even further against the US dollar.

According to the State Bank of Pakistan (SBP), the dollar’s rate increased by Rs1.1 on Monday, with a closing rate of Rs287.92. In comparison, it had closed at Rs286.81 on Friday, showing a 0.39 per cent decline in the value of the rupee against the US dollar.