Rupee gains 25 paisas against dollar

Rupee gains 25 paisas against dollar

KARACHI: The Pak Rupee gained 25 paisas against dollar on Friday owing to expectations of improved economic activities after ease in lockdown.

The rupee ended Rs159.97 to the dollar from previous day’s closing of Rs160.22 in interbank foreign exchange market.

Currency analysts said that the decision of the government to ease lockdown from May 09 improved the sentiments in the market.

They said that the rupee also improved with shrinking trade deficit.

The trade deficit shrank by 25.68 percent to $19.49 billion during July – April 2019/2020 as compared with the deficit of $26.23 billion in the same period of the last fiscal year.

The exports in first ten months (July – April) 2019/2020 also fell by four percent to $18.41 billion as compared with $19.16 billion in the corresponding period of the last fiscal year.

On the other hand the import bill fell by 16.5 billion to $39.9 billion in the first ten months of current fiscal year as compared with $45.4 billion in the corresponding period of the last fiscal year.

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