Dollar increases by 1 paisa against Pak Rupee

On Thursday, the dollar increases by one paisa against the Rupee in the interbank market.

According to the details, in the interbank market, currently, the US dollar is being traded at 155.33 Rs.

Yesterday the rupee closed at 155.32 against the Pakistani rupee, compared with the previous closing of 155.33.

In the open market, the local currency remained steady at 155.60 versus the greenback for the third consecutive session.

The rupee has gathered strength amid an increase in the State Bank of Pakistan’s foreign exchange reserves. The SBP’s forex reserves have been supported by higher portfolio inflows in government securities and surplus in the current account balance.

The rupee has increased by 5.6 percent since June 2019. The forex reserves held by the central bank rose $45 million to $8.442 billion as of November 15. The current account balance posted a surplus of $99 million in October after a gap of four years. The current account deficit contracted 73.5 percent to $1.5 billion in the first four months of the current fiscal year.