Pakistani currency's upward trajectory against USD ends

ISLAMABAD, Oct. 13 (Xinhua) -- The Pakistani rupees' upward trajectory for around a couple of weeks against the U.S. dollar ended on Wednesday as the greenback was traded at 217.88 in the interbank, according to the State Bank of Pakistan.

The U.S. dollar closed at 217.79 rupees on Tuesday, and on Wednesday it went slightly up after the local currency depreciated by 0.09 rupee, or about 0.04 percent, the official figures showed.

This increase in the dollar was recorded after 13 consecutive sessions of decrease.

Cumulatively, the local currency has appreciated 21.82 rupees, or 10 percent against the greenback, in the past 14 sessions.

According to market analysts, the strict monitoring from the concerned government authorities has led to the appreciation of the rupee until the recent past.

Additionally, the dollar's demand also decreased as exporters have been bringing their proceeds into the country at a rapid pace.