PKR recovers six paisas on foreign inflows

PKR recovers six paisas on foreign inflows

KARACHI: The Pakistan Rupee (PKR) gained six paisas against the dollar on Thursday owing to inflows under export receipts and remittances.

The rupee ended Rs174.98 to the dollar from previous day’s closing of Rs175.04 in the interbank foreign exchange market.

Currency experts said that rupee recovered following inflows of exports receipts and foreign remittances. They however said that the dollar demand for import payment remained high.

Pakistan’s current account deficit sharply widened to $5.08 billion during first four months (July – October) of the current fiscal year as compared to a surplus of $1.31 billion in the same period of the last year.

The rupee hit the all-time low of Rs175.73 to the dollar on November 12, 2021 in the interbank foreign exchange market.

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