The US dollar continued to lose value against the rupee for the 27th consecutive day on Friday as it shed 96 paisas in the interbank foreign exchange market.

The dollar fell to Rs277.62 at the closing of the interbank, as against the closing of Rs278.58 the previous day .

After going well over Rs300 in interbank and open market last month, the dollar has continued to fall after the government cracked down on smuggling and hoarding.

The dollar has now lost Rs50 in value over the last two months, making it one of the best performing currencies in the world.

The Pakistan Stock Exchange also got off to a positive start on Friday with an increase of 229 points as trading began.

The increase took the PSX above the 49,000 point mark after six years. The mark was las crossed on June 9, 2017.

Elsewhere, petrol sales in Pakistan have gone up by 8% while wheat production has also reached 28 million tonnes.

THe sings of improvement in the economy have also improved Pakistan’s projected growth rate for the next fiscal year to 3.5%.