KARACHI: The Pak Rupee gained 20 paisas against dollar on Wednesday owing to improved inflows of export receipts and workers remittances.
The rupee ended Rs168.07 to the dollar from previous day’s closing of Rs168.27 in interbank foreign exchange market.
Currency experts said that inflows of export receipts and workers remittances were sufficient to support the local currency and meet demand for import and corporate payments.
The experts said that the foreign inflows would help the local currency to further appreciate in coming days.
The liquid foreign exchange reserves of the country increased by $651 million by week ended July 30, 2020 owing to foreign inflows.
The total foreign exchange reserves of the country increased by $651 million to $19.563 billion by week ended July 30, 2020 as compared with $18.912 billion a week ago.
The official foreign exchange reserves of the SBP increased by $566 million to $12.542 billion by week ended July 20, 2020 as compared with $11.976 billion a week ago.
