US dollar rises against rupee for fourth day in row
- By admaster -
- May 27, 2021
KARACHI: The United States (US) dollar continued to appreciate against the Pakistani rupee in the inter-bank currency market for a fourth day in row on Thursday.
According to the State Bank of Pakistan (SBP), the greenback closed at Rs154.84 against the local currency, registering appreciation of six paisas over the previous close of Rs154.78.
Interbank closing #ExchangeRate for today:https://t.co/urxbbI2VJT pic.twitter.com/nNfQnchcPz
— SBP (@StateBank_Pak) May 27, 2021
On Wednesday, the dollar appreciated 41 paisas to close at Rs154.78 against the rupee. Tuesday also saw the greenback close 67 paisas higher at Rs154.37 against the local unit.
It is noteworthy that he rupee has recovered more than Rs12 during the last ten months since it touched an all-time low of Rs168.43 last year in August.
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.