In a positive economic development, US dollar hits one year low value against the Pakistani Rupee

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In a positive economic development, US dollar hits one year low value against the Pakistani Rupee

The US dollar on the second day of the trading week— Tuesday has hit a one-year low in domestic exchange markets.

Karachi: In the interbank exchange market, the US dollar lost 19 paisa to close at Rs157.85. Whereas, in the open market, the dollar fell 40 paisas to Rs157.90 at the closing of the currency market.

According to the data released by the State Bank of Pakistan, the dollar has decreased by 19 paisas in the interbank market. Dealers also opine that the next range for the rupee could be Rs157.40 to Rs157.90.

“The demand for the hard currency remained subdued due to fewer import payments. Strong inflows from remittances and Roshan Digital Account have increased the dollar supplies in the market,” said a currency dealer. “We expect the rupee to easily trade below Rs158 levels/dollar in the coming sessions. The next range for the rupee could be Rs157.40 to Rs157.90.”