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US dollar edges up against Pakistani rupee

KARACHI: The United States (US) dollar appreciated eight paisas against the Pakistani rupee in the interbank currency market on Tuesday.

According to the State Bank of Pakistan (SBP), the greenback closed at Rs152.83 against the local currency, registering an appreciation of eight paisas over its previous close of Rs152.75.

Over the past two months, the rupee has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, foreign loan receipts, higher remittances besides less demand of dollar due to the ongoing pandemic.

The State Bank of Pakistan (SBP) received the proceeds of the government’s $2.5 billion eurobond issuance in its account last week. After arrival of $2.5bn, the State Bank said its foreign exchange reserves have soared to $16bn, the highest level since July 2017.



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