Rupee advances against dollar in early trade

Rupee advances against dollar in early trade

KARACHI: The Pak Rupee further made gain against dollar in early trade on Friday owing to contraction in current account deficit, dealers said.

The dollar is being traded at Rs138.60 in interbank foreign exchange market.

The exchange rate was ended at Rs138.63 to the dollar yesterday.

Pakistan’s current account deficit has narrowed by 16.8 percent to $8.424 billion owing to declining imports and improved foreign remittances.

According to statistics released by State Bank of Pakistan (SBP) on Thursday, the current account deficit narrowed to $8.424 billion during July – January 2018/2019 as compared with the deficit of $10.124 billion in the corresponding period of the last fiscal year.

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