Pakistan rupee strengthened against the US dollar in the interbank for the second consecutive day and recovered Rs0.19 (+0.11 percent) on Friday.
According to the State Bank of Pakistan, the US dollar opened atRs165.81 and closed at Rs165.62. Within the open market, the rupee was traded at Rs165.60/166.40 per dollar.
Overall, Pakistani rupee shed Rs1.44 against the US dollar during this week, while depreciation during the fiscal year 2021-22 has been Rs8.26. The local unit has shed Rs5.43 against the US dollar in the current year 2021.
According to currency experts, the market witnessed sufficient supply of dollars from export receipts and workers’ remittances, which helped the rupee make gains. —TLTP