KARACHI: The Pak Rupee made another gain of 15 paisas against dollar on Monday owing to improved economic indicators.
The rupee ended at Rs160.11 to the dollar from closing of last trading day of October 29, 2020 at Rs160.26 in interbank foreign exchange market.
Currency experts said that the improved economic indicators and significant inflows of workers’ remittances and export receipts helped the local currency to make gain.
The State Bank of Pakistan (SBP) said that the remittances increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August 2020.
Workers’ remittances remained above $2 billion for the fourth consecutive month in September, the central bank said.
On a cumulative basis, remittances rose to a record $ 7.1 billion in the first quarter of current fiscal year, 31.1 higher than the same period last year.
The level of remittances in September was slightly higher than SBP’s projections of $2 billion.
