Dollar retreats to Rs161.82 in interbank

KARACHI: The Pak Rupee continued its gaining momentum and further advanced by 31 paisas against the dollar on Thursday as the currency market remained positive.

The rupee ended Rs161.82 to the dollar from previous day’s closing of Rs162.13 in interbank foreign exchange market.

Currency experts said that sufficient inflows and a current account surplus helped the rupee to make gain.

With the latest depreciation the dollar comes at five-month low in the interbank foreign exchange market.

The dollar reached to record high of Rs168.43 on August 26, 2020 in interbank foreign exchange market.

The rupee recovered around Rs6.61 against the dollar from witnessing record low against dollar.

The experts said that ease in exchange rate pressure to help reduce debt pressure by Rs725 billion.

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