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Rupee posts minor gains against US dollar

KARACHI: The Pakistani rupee posted minor gains against the United States (US) dollar as it appreciated nine paisas in the inter-bank currency market on Wednesday.

The local unit finished at Rs155.69 against the greenback, registering appreciation of nine paisas over previous close of Rs155.78, according to the State Bank of Pakistan (SBP).

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: Trade deficit balloons by 30% in July-May

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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