Pakistani Rupee Rises further against the US Dollar

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Pakistani rupee continued its appreciation against the dollar on Thursday. Following a lack of buyers’ interest in the market for the third consecutive day, the dollar remained under selling pressure.

The rupee traded 25 paisas higher and was closed at 163.72 against the dollar, compared with yesterday’s closing of 163.97 in the interbank foreign exchange market.

Yaqoob Abubakar from Tresmark – an application that tracks financial market told ProPakistani,

The rupee continued the rally towards appreciation due to low volumes today. As per dealers, the market has a sufficient supply of dollars to cover import and for the corporate payments demand.