The Pakistani rupee has managed to maintain its hold against the US dollarand shed only 37 paisas in the interbank trading.
As per the State Bank of Pakistan, the local unit was depreciated by 37paisas against the greenback during Wednesday’s interbank session, endingthe day at Rs283.92.
On Tuesday, the Pakistani rupee registered a small recovery of three paisasagainst the US dollar which ended the day at Rs283.55 in the interbank.
According to money experts, the rupee has resurged a bit following the factthat demand for dollar for imports and other corporate payments has beeneased.
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Besides, country’s current account deficit has also contractedsignificantly.
According to the State Bank of Pakistan, the current account deficitrecorded at $3.86 billion during the first eight months of the presentfiscal year as compared with the deficit of $12.08 billion in thecorresponding period of the last fiscal year.
