Rupee gains four paisas in early trade on improved sentiments

Rupee gains four paisas in early trade on improved sentiments

KARACHI: The Pak Rupee gained four paisas against dollar in early trade on Tuesday owing to improved economic conditions.

The dollar is being traded at Rs155.25 to the dollar in interbank foreign exchange market.

The rupee was at Rs155.29 to the dollar in last day closing.

Currency experts said that latest credit rating by Moody’s to upgrade Pakistan’s economy to positive from negative improved the sentiments of investors.

The rupee faced massive depreciation against dollar and other foreign currency during past couple of years. However, for the past many days the rupee was remained stable.

The stability in rupee came after significant decline in import bill and narrowed trade deficit.

The shrinking trade deficit also helped the country to reduce the current account deficit.

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