Dollar slips to Rs157.54 as rupee recovers 20 paisa

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Pakistan rupee appreciated against the US dollar in the interbank for the second straight day on Wednesday and recovered another 20 paisas (+0.13 percent).

According to the State Bank of Pakistan, the US dollar opened atRs157.74 and closed at Rs157.54.

Within the open market, the US dollar was traded at Rs158/158.50. Overall, Pakistani rupee gained 8 paisas against the US dollar during the last three days.

However, the local unit has gained Rs10.50 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs2.60 in 2021.

Meanwhile, rupee’s Real Effective Exchange Rate Index (REER) decreased by 0.63 percent in May 2021 to a provisional value of 102.30 from the re-vised value of 102.95 in April 2021.

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