Pace of rupee rise slows down.

KARACHI -- Pakistani currency maintained its uptrend in inter-bank market for the 28th successive working day on Monday but it gained less than Rs1 against the US dollar for third day in a row, indicating the currency is gradually entering the stabilisation phase.

Earlier, on most of the days in the past four weeks, the currency recovered more than Rs1 a day. According to State Bank of Pakistan's (SBP) data, the currency registered a fresh appreciation of 0.29%, or Rs0.79, and closed at Rs276.83 to a dollar.

It has cumulatively gained around 11%, or Rs30.27, in the past 28 working days compared to the record low of Rs307.10/$ hit on September 5, 2023.

The fresh recovery came after Finance Minister Shamshad Akhtar held a meeting with high officials of the United Arab Emirates to seek the release of more financing and investment from the Gulf nation.

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Besides, the international financial institutions including the World Bank and the Asian...