Pakistani Rupee Posts Big Gains Against the US Dollar 3rd Day in A Row

Pakistani Rupees
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Pakistani Rupee remained its recognition for the third continuous day against

the US dollar. The Rupee ended at Rs. 153.01 to the USD today (April 8), up from

Rs. 153.17 to the USD in the interbank exchange on Wednesday (April 7), with the

enjoyment of 16 paisas. Dealers said fewer import payments and healthful inflows

supported the Pakistani Rupee to recover ground during the assembly. The defeat

for PKR at the start of this week may be defined by the buying demand of dollars

from merchants and corporates. Authorities said that the need for the greenback

was short. According to the sellers, the Rupee is increasing due to enhanced

external situation and lower interest for import returns. The inflows as

recommended by the IMF, the World Bank, and the Asian Development Bank have

produced a positive attitude for the currency. This also suggests further recognition

for PKR in the coming weeks.

Against other major currencies as well, PKR posted cover increases in the interbank

currency market today. PKR posted a gain of 52 paisas against the Euro, Rs. 1.6

against the Pound Sterling (GBP), 20 paisas into the Australian Dollar (AUD), 28

paisas against the Canadian Dollar (CAD), and 4 paisas each upon the UAE Dirham

(AED) and the Saudi Riyal (SAR) today.


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