KARACHI – In signs of economic recovery, Pakistani Rupee hits highestlevel of FY 2019-20 against US Dollar in the interbank market.
The Pakistani currency rose to a four-month high against the U.S. dollar bygaining another 8 paisa in the interbank market on Monday. The rupeerecovered to Rs155.98 during the early trade hours and the open market isexpected to follow the similar trend.
According to economists, international currency rates and devaluation mayhave affected currency rates in Pakistan.
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On Sunday, the World Bank forecasted Pakistan’s economic growth to slowdown for the next two years as it faces yet another macroeconomic crisisdue to massive twin deficits and low foreign reserves.
