KARACHI – Pakistani rupee continued to gain in value against the US dollaron Thursday, with analysts crediting an increased inflow of foreignremittances ahead of Eidul Fitr.
During the interbank trading, the local currency appreciated by 19 paisasagainst the USD and was currently being traded at Rs283.70.
On Wednesday, the rupee remained stable against the greenback duringtrading in the inter-bank market. Data shared by State Bank shows PKRsettled at 283.89, with an increase of one paisa.
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The sentiment of the money market remained the same amid all eyes on IMFbailout funds while experts suggest that the increase in inflows fromworkers’ remittances ahead of Eidul Fitr and a further decline in importpayments also reduced demand for the high-flying dollars.
