The Pakistani rupee faced a 0.36 percent decline against the US dollar during the initial hours of intra-day trading on the first working day of the week. It hovered at 284.45 PKR, marking a drop of Rs1.02 in the inter-bank market.
Last month, the PKR maintained a positive streak for 28 successive sessions, earning its place as one of the top-performing currencies. However, in recent times, the US dollar has continued to strengthen, driven by escalating demand.
This comes after a previous setback on November 3 when the local currency settled at 283.43 PKR. Despite bouncing back briefly due to stringent measures, the Pakistani rupee has experienced a downward trend for the third consecutive week.