Rupee makes gain against dollar in interbank

Rupee makes gain against dollar in interbank

KARACHI: The Pak Rupee (PKR) gained 14 paisas against the dollar on Tuesday. The inflows of workers’ remittances helped the rupee to make gain.

The rupee closed at Rs163.76 to the dollar in the interbank foreign exchange market. The local unit ended at Rs163.90 to the dollar a day earlier.

Currency experts said that the inflows of remittances helped the local currency to appreciate.

The inflows of workers’ remittances were at $2.71 billion in July 2021. The SBP issued details of remittances today.

According to the State Bank of Pakistan (SBP) the remittances were remained above $2.0 billion for the 14th consecutive month.

The experts said that the rupee likely to make further gain in coming days. The said that the country is expecting inflows of $2.8 billion from IMF by month end.

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