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Dollar sheds 17 paisas against Re

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KARACHI: Pakistani rupee ended the losing streak against the US dollar after three days by gaining 17 paisas (+0.11 percent) against the greenback in the interbank on Friday.
According to the State Bank of Pakistan, the US dollar opened at Rs154.79 and closed at Rs154.62. Within the open market, the US dollar was traded at Rs154.80-155.50. The local currency shed Rs0.19 against the greenback during this week.
However, the local unit has gained Rs13.43 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs5.22 in 2021.
Currency experts said that the market witnessed inflows of export receipts and workers remittances that helped the local unit make gains. They said that due to the last day of the week, the demand of the greenback was seen during the day; however, sufficient supply of the dollar helped the local unit. – TLTP