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Rupee Continues to Improve Against US Dollar

After touching the highest value in one year at the interbank currency market last week, the Pakistani Rupee saw a slight but consistent improvement again by 4 paisas today.

From trading, at the lowest in August 2020, today the rupee was closed at Rs. 157.07 against the greenback in the interbank market.


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The Rupee has consistently improved against the US Dollar for over two weeks and was periodically appreciating before that.

PKR continued to march upwards due to soft importers’ dollar demand and inflows from remittances, Roshan Digital Account, and export proceeds.

The appreciation in PKR will have two-edged impacts on Pakistan. On the positive side, the fall in US Dollar would help reduce the debt burden with this decline, and it will also likely lead to a decline in imported inflation.

On the other hand, exports may get relatively become uncompetitive in pricing.

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Against other currencies as well, PKR posted blanket gains against all major currencies on Friday, an improvement trend that continued this Monday, except against the Canadian Dollar.


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On Friday, PKR posted a notable gain of Rs. 1.84 improvement against the Euro, further compounding it by 83 paisas improvement today.

Against the GBP, PKR went up by Rs. 1.63 on Friday and improved those gains by 30 paisas today.

Friday’s gains for PKR against the AUD clocked in Rs. 2.04, while today saw PKR went up 17 paisas against the AUD.

PKR went up by 52 paisas against the CAD on Friday and posted 13 paisas loss today. This is the only movement for PKR that has been of erosion.

PKR had improved by less than a paisa against both UAE Dirham and Saudi Riyal on Friday and improved by 1 paisa against both today.

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