Rupee gains 12 paisas on surplus current account

Rupee gains 12 paisas on surplus current account

KARACHI: The Pak Rupee gained 12 paisas against the dollar on Monday as current account remained surplus during first eight months of the current fiscal year.

The rupee ended Rs155.85 to the dollar from last Friday’s closing of Rs155.97 in the interbank foreign exchange market.

Currency dealers said that positive sentiments prevailed as current account remained in surplus during the first eight months of the current fiscal year.

The balance of payment has posted a current account surplus of $881 million during first eight months (July – February) of 2020/2021 as compared with a deficit of $2.74 billion in the corresponding months of the last fiscal year, State Bank of Pakistan (SBP) said on Sunday.

According to balance of payment data, trade deficit ballooned to $16.08 billion during first eight months of the current fiscal year as compared with the deficit of $13.16 billion in the same months of the last fiscal year.

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