Rupee reaches its 1-year high

Rupee reaches

KARACHI: Rupee recorded the highest value of 156.72 in the interbank market against the dollar ending at one year high.

As per the details, the appreciation of the Rupee at this value in the interbank market is recorded since March 2020. The appreciation in the value of the rupee is attributed to the low demand of money for import payments while the inflows maintaining the momentum.

Similarly, factors like recorded inflow of remittances, increased foreign exchange reserves, and improved hot money inflows also resulted in the increase of the value of the rupee.

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