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Rupee appreciates against US dollar

KARACHI: The Pakistani rupee appreciated 17 paisas against the United States (US) dollar in the inter-bank currency market on Friday.

According to the State Bank of Pakistan (SBP), the local currency closed at 154.62 against the greenback, registering appreciation of 17 paisas (0.11%) over the previous close of Rs154.79.

The rupee has recovered more than Rs14 during the last ten months since it touched an all-time low of Rs168.43 last year in August.

Also Read: SBP foreign reserves rise $272mn to $16.1bn

The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, higher remittances besides less demand of dollar due to the ongoing pandemic.

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