Rupee gains 6 paisas to push dollar down to Rs157.62


Pakistan rupee gained 6 paisas (+0.04 percent) against the US dollar in the interbank on Friday, making it the second straight day of appreciation against the greenback. According to the State Bank of Pakistan, the US dollar opened at Rs157.68 and closed at Rs157.62. Within the open market, the US dollar was traded at Rs157.70/158.30.

Pakistani rupee shed Rs0.73 against the US dollar during this week. However, the local unit has gained Rs10.42 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs2.27 in 2021.

The currency experts said that the rupee strengthened because a sufficient supply of the dollars in the shape of export receipts and workers’ remittances were seen during the day. They said that the demand for the foreign currency remained high during the day due to corporate and import payments. They said that the rupee witnessed a continuous decline against the dollar during this week owing to demand for…

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