The Pakistani rupee lost ground against the US dollar on Monday, depreciating 0.05% during interbank trading.
At 11:45 am, the rupee stood at 278.95 in the inter-bank market, experiencing a slight decrease of Re0.15.
In the previous week, the rupee halted its continuous upward trend against the US dollar and concluded the week 1.18 rupees lower or 0.42% at 278.80 in the inter-bank market.
This drop in the local currency was attributed to increased demand for dollars to facilitate foreign payments, according to a brokerage house.
Before this, the rupee had shown a remarkable streak of 28 consecutive positive sessions, marking one of its longest periods of appreciation, with a total gain of 10.93% since hitting its all-time low of 307.1 in the inter-bank market on September 5.
