The rupee continued to regain stability for the third straight day againstthe US dollar, with the exchange rate closing at Rs. 164.51 in theinterbank market today.

The local currency appreciated by 49 paisas today as compared withyesterday’s closing of Rs. 165 against the US Dollar.

According to Capital Stake, the exchange rate has fallen to its lowestsince mid-June.

A fantastic week for USD-PKR as PKR appreciated by Rs. 1.28/- on Week onWeek basis whereas it has gained by 49 paisas today from the previous dayclose of 165.00. The recovery in the rupee is observed by inflows in the FXmarket. Sources of inflows are Remittances, an enthusiastic response inRoshan Digital Account and Naya Pakistan Certificates, approval of $300mfrom ADB, and export receipts. We foresee that Rupee will maintain the samelevel in the coming week and maybe traded in between 164 – 165,” saidYaqoob Abubakar from Tresmark, an application that tracks financial markets.

A.A.H Soomro, Managing Director at Khadim Ali Shah Bukhari Securities whilecommenting on the Rupee said,

The Current account is well under control. Dollar has fallen globally. Withlow oil prices and REER at 93, currency is fairly stable.

Roshan Digital Accounts Brings $1.5 billion of inflows

Malik Bostan, President Exchange Companies of Pakistan, told ProPakistanithat the dollar inflows from overseas Pakistanis have been healthy sincethe launch of the new fund transfer service of Roshan Digital Accounts. Hesaid that in the past 12 days there have been nearly $1.5 billion inflowsto Pakistan from various countries.