KARACHI: The Pakistani rupee continued to strengthen against the UnitedStates (US) dollar hitting a six-month high of Rs159.65 in the inter-bankmarket on Wednesday.
According to forex dealers, the local currency appreciated by Rs0.32 toRs159.65 against the greenback as trading session began today.
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The US dollar was traded at as low as Rs159.93 in the currency market theother day, falling below the Rs160 mark for the first time in the past fivemonths.
Economic expert Asad Rizvi said the dollar has depreciated by Rs8.78against the rupee over the past two months. He said the country’s currentaccount surplus helped ease pressure on the rupee.
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Also Read: Dollar falls below Rs160 mark against Pakistani rupeelink
In a tweet last month, Prime Minister Imran Khan had said: “We are headedin the right direction finally.”
He said the country’s current account balance posted a surplus of $73million during September, bringing surplus for the first quarter of thecurrent fiscal year to $792 million as compared to $1,492 million deficitrecorded during last year’s corresponding year. The prime minister saidexports also saw a 29 per cent increase besides remittances growing 9 percent over the previous month.
