Pakistani rupee appreciates, closes at Rs161.73/US$
Posted On October 26, 2020
0
60 Views
0 
ISLAMABAD: The Pakistani rupee appreciated against the US Dollar, closing at Rs161.73/US$.
The price of the dollar is likely to depreciate more, as a result of an increase in remittances and a drop in imports.
For the first time in almost five months, the dollar dropped to a value Rs161.37/US$.
The appreciation of the rupee comes a day after the SBP announced a record surplus worth Rs79 792 million, in the current account in the first quarter of the fiscal year (July-Sep FY21).
Currently, the foreign exchange reserves held by the central bank have surged to $12.066 billion, whereas the foreign exchange held by the commercial banks’ amounts to $7.235 billion, reported the State Bank of Pakistan (SBP).
For news and blogs, visit Graana.com.
Trending Now
Best Islands in Karachi
April 27, 2022
Shahrah-e-Faisal, Karachi: Route Guide & Significance
April 25, 2022