Pakistani rupee continues to strengthen against US dollar

KARACHI: The Pakistani rupee continued to strengthen against the United States (US) dollar on Friday as it appreciated by Rs0.37 in the inter-bank market.

According to the State Bank of Pakistan (SBP), the dollar finished at Rs159.09 against the local unit in the inter-bank market as compared to Thursday’s closing of Rs159.46.

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In the open market, the greenback was traded at 159.30 rupees after depreciating by Rs0.40.

Interbank closing #ExchangeRate for today: https://t.co/98hh77Wbvi pic.twitter.com/LjsNy5AncI

— SBP (@StateBank_Pak) November 6, 2020

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On November 4, the rupee had hit a six-month high of Rs159.65 against the dollar in the inter-bank market.

Economic expert had Asad Rizvi said the dollar depreciated by Rs8.78 against the rupee over the past two months. He said the country’s current account surplus helped ease pressure on the rupee.