Rupee hits a one-year high against US dollar

KARACHI: The Pakistani currency hit a one-year high against the US dollar in the inter-bank market on Tuesday as the inflow of foreign currencies soared.  

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According to the State Bank of Pakistan (SBP), the rupee stood at Rs157.84 on Tuesday as compared to Rs158.03 on Monday indicating a strengthening of the currency. 

As per the experts, the appreciation of the rupee will aid in curtailing inflation as Pakistan predominantly relies on imported raw materials, machinery, and food items. 

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