KARACHI: The Pak Rupee gained 29 paisas against dollar on Wednesday owing to inflows from international financial institutions and shrinking current account deficit.
The rupee ended Rs167.36 to the dollar from previous day’s closing of Rs166.65 in interbank foreign exchange market.
Currency experts said that the rupee recovered 29 paisas after a fall of Rs1.06 a day earlier against the dollar.
They said that the rupee was strengthened after the SBP received $1 billion from the World Bank and Asian Development Bank.
Further, the data of Balance of Payment (BOP) showed 74 percent decline in current account deficit during first eleven months of current fiscal year.
The foreign exchange reserves of the country have increased by $70 million to $16.775 billion by week ended June 12, 2020.
The foreign exchange reserves were at $16.705 billion by week ended on June 05, 2020.
The foreign exchange reserves held by the central bank increased by $11 million to $10.107 billion by week ended June 12, 2020 as compared with $10.096 billion a week ago.
