Rupee strengthens against dollar

KARACHI: The rupee gained 18 paisas against the US dollar on Friday, owing to positive economic indicators shown in the Economic Survey of Pakistan.

The exchange rate closed at Rs155.74 against the dollar from the previous day’s closing of Rs155.92 in the interbank foreign exchange market.

Dealers said the local currency was supported by the improved economic indicators reported in the Economic Survey of Pakistan, released on June 10.

The survey revealed GDP growth at 3.94 per cent despite tough times due to the Covid-19 pandemic.
They also said the market was also anticipating the announcement of several relief measures in the Federal Budget 2021/22.

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