{"id":15701,"date":"2023-10-19T08:33:06","date_gmt":"2023-10-19T08:33:06","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/rupee-improves-after-trending-downward-for-2-days\/"},"modified":"2023-10-19T08:33:06","modified_gmt":"2023-10-19T08:33:06","slug":"rupee-improves-after-trending-downward-for-2-days","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/rupee-improves-after-trending-downward-for-2-days\/","title":{"rendered":"Rupee improves after trending downward for 2 days"},"content":{"rendered":"

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After depreciating against the greenback on Wednesday, the rupee returned to extending gains against the dollar on the interbank market by Rs2.09.<\/p>\n

For most of September, the rupee saw gains upwards of 6pc, which followed an administrative crackdown on the informal currency market, eventually becoming the best-performing currency for that month. The gains saw a reversal by October 17.<\/p>\n

Analysts attributed the reversal<\/a> of the trend to a higher demand for the greenback in the banking market for upcoming foreign payments.<\/p>\n

According to the Forex Association of Pakistan, the dollar stood at Rs278.20 against the rupee at 10:07am on Thursday from the previous close of Rs280.29.<\/p>\n

Meanwhile, the Pakistan Stock Exchange KSE-100 Index traded in the green before the afternoon, making moderate gains of 488.84, or 0.99 per cent, from the previous close of 49,431.47 points.<\/p>\n

The PSX index had witnessed a dip on Wednesday amid a global equity-sell off due the geopolitical tensions in the Middle East and the depreciation of the rupee against the greenback.<\/p>\n

Major activity was reported in stocks such as K-Electric Limited, Pakistan Refinery Limited, Air Link Communication Limited, World call Telecom Limited, Sui Northern Gas Pipelines Limited and Pakistan Petroleum Limited.<\/p>\n\n

More to follow<\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

After depreciating against the greenback on Wednesday, the rupee returned to extending gains against the dollar on the interbank market by Rs2.09. For most of September, the rupee saw gains upwards of 6pc, which followed an administrative crackdown on the informal currency market, eventually becoming the best-performing currency for that month. The gains saw a […]<\/p>\n","protected":false},"author":2,"featured_media":15702,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.dawn.com\/large\/2023\/10\/19105348f512463.jpg?r=105418","fifu_image_alt":"","footnotes":""},"categories":[192],"tags":[],"class_list":["post-15701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-islamabad-news"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t