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Pakistani rupee hits 22-month high against US dollar

Pakistani rupee hits 22-month high against US dollar

KARACHI: The Pakistan rupee strengthened by 23 paisas against the United States (US) dollar at the start of today’s trading, hitting a 22-month high.

According to forex dealers, the local currency is currently trading at Rs152.95 against the greenback.

The rupee had closed at Rs153.18 against the US dollar the other day.

The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, foreign loan receipts, higher remittances besides less demand of dollar due to the ongoing pandemic.

The rupee has recovered more than Rs15 during the last seven months since it touched an all-time low of Rs168.43 last year in August.