Dollar sheds another 4 paisas viz Re

KARACHI: Pakistani rupee was appreciated by 4 paisas (+0.03 percent) against the US dollar on Friday.
According to the State Bank of Pakistan, the US dollar was opened at Rs157.16 and closed at Rs157.12. The dollar has fallen to the lowest level of the last one year. The rupee has gained Rs1.98 against the greenback since February 19.
The currency experts said that demand for the foreign currency remained high due to upcoming two weekly holidays. However, inflows of workers’ remittances and export receipts helped the rupee make gain. The export receipts have increased by 4.3 percent to $16.3 billion during the first eight months (July-February) 2020/2021 as compared with $15.6 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Friday. – TLTP

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