Dollar slips to Rs153.24 as rupee recovers 12 paisa


Pakistani rupee continued its winning streak against the US dollar for the fifth straight session in the interbank on Tuesday and made a recovery of 12 paisas (+0.08 percent).

According to the State Bank of Pakistan, the US dollar opened at Rs153.36 and closed at Rs153.24. Within the open market, rupee was traded at 153/154 per dollar.

The rupee gained Rs0.21 against the greenback during the last two days, whileit has gained Rs14.81 against the greenback in fiscal year 2020-21 and appreciation has been Rs6.60 in the current year.

The currency experts said that the inflows of export receipts helped the rupee make recent gains.

They said that the rupee appreciated due to inflows of Eid related remittances. They said that overseas Pakistanis usually send money to their relatives for Eid celebrations.

The experts said that the inflows of exports, remittances and other foreign receipts would help the rupee maintain levels in coming days.

Meanwhile, the foreign exchange reserves held by the country stand at $23.52 billion by week ended April 23, 2021, SBP said. —TLTP