KARACHI: The Pakistani rupee strengthened by 15 paisas (0.10%) against the United States (US) dollar in the interbank currency market on Wednesday.
According to the State Bank of Pakistan (SBP), the local unit closed at Rs153.18 against the greenback as compared to yesterday’s closing rate of Rs153.33.
Interbank closing #ExchangeRate for today:https://t.co/BWLWnU3pGw pic.twitter.com/CuFUXTbpAL
— SBP (@StateBank_Pak) April 7, 2021
Last week, the rupee climbed to Rs152.25 against the US dollar, hitting a 21-month high.
The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, foreign loan receipts, higher remittances besides less demand of dollar due to the ongoing pandemic.
The rupee has recovered more than Rs14 during the last seven months since it touched an all-time low of Rs168.43 last year in August.
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