rupee

KARACHI: Pakistani rupee continued gaining streak against the US dollar and was appreciated by 29 paisas (+0.19 percent) in the interbank on Thursday.
According to the State Bank of Pakistan, the US dollar was opened at Rs155.74 and closed at Rs155.45. This has been the highest level for the local currency against the greenback since March 6, 2020.
The rupee has gained Rs1.69 against the greenback in the last four days, while it has gained Rs3.63 against the dollar since February 19. During the fiscal year 2020-21, rupee has so far strengthened by Rs12.60 or 8.11 percent against the greenback while in current year 2021, the appreciation has been Rs4.38 or 2.82 percent. Within the open market, rupee was traded at 155.00/155.80 per dollar.
The currency experts said that the improved inflows would help the local unit further make gain. They said that the third wave of coronavirus has also discouraged the importers to place new purchase orders. – TLTP