Dollar shed another 36 paisas viz Re

KARACHI: Pakistani rupee was appreciated by 36 paisas (+0.19 percent) against the US dollar on Friday, making it the fifth straight day to gain against the greenback during the ongoing week.
According to the State Bank of Pakistan, the US dollar was opened at Rs158.46 and closed at Rs158.10. The rupee gained Re1 against the greenback during the last five days The currency experts said that despite the last trading day of the week the rupee had gained value against the greenback. They said that though there was pressure on local currency due to demand of the dollar for import and corporate payments. However, supply was sufficient to meet the demand, they added.
They said that the FATF a day earlier decided to keep Pakistan in the grey list until June this year. However, remarks of the FATF panel were encouraging as Pakistan had shown strong commitment to deter money laundering and terror financing. The currency experts said that the rupee may make more gains in coming days owing to improved inflows of workers’ remittances and export receipts. – TLTP

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