DUBAI: Pakistani Rupee hits highest level against US dollars of last fivemonths, US dollar may fall below Rs 150 mark.

Pakistanlinkrupeehas shown signs of recovery on Sunday at it hit the highest level againstthe dollar during the last five months.

[image: dollar-rupee]

Currency dealers foresee rupee to rise further in the coming months in thewake of higher inflows of dollars and increased attraction of localcurrency and value may fall below Rs 150 mark.

The dollar traded as low as Rs154.70 in the open market on Saturday whichwas much lower compared to Rs164 on June 26 this year.

The currency dealers expect the rupee to gain further over the span of nextweek. He said that they saw surged inflows in the last few days. A positiveeconomic outlook followed by the lower present account deficit and a stableforeign exchange reserves has added to the strengthening of the rupee.He added that they anticipate that the rupee would further be rising in thecoming days and the next level is 154.50.

Moreover, the country received £190 million from a settlement between MalikRiaz and the British government during the week.

While, the Forex reserves held by the central bank rose by $431 million to$9.112 billion during the week ended November 29.

The increase in the foreign exchange reserves of the State Bank of Pakistanwas due to a reduction in the foreign exchange swaps and forwardliabilities of the central bank.