KARACHI: The US dollar maintained its position on Thursday as it increased gains against the Pakistani rupee, halting an 11-day stretch of appreciation.According to data made public by the State Bank of Pakistan (SBP), the value of the dollar increased by Rs0.07, or 0.03%, against the local currency.
The rupee, which on Monday overtook all other currencies to become the best-performing currency globally, has lost more than Re1 over the last two days as it corrects itself after posting the greatest gain of 11% in the first half of August.
Analysts and currency dealers predict that the currency will continue to be under pressure until the board meeting of the International Monetary Fund, which is slated for August 29.
