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Pak rupee value improved due to reducing demand for dollar
Irfan Ali
07 December, 2019 19:36
Pak rupee value improved due to reducing demand for dollar. One US was traded as low as 154.70 rupees in the open market on Saturday.
Comparatively, PKR devalued against dollar amounting 164 rupees a dollar on June 26 this year.
Pak rupee value improved
Hence, market experts see Saturday PKR value in open market as five-month high.
However, they said the reason behind it: demand for the dollar fall owing to decline in imports.
Moreover, increase in dollar from lending agencies and foreign investment in rupee also helped stabilise the rupee-dollar parity.
Currency dealers foresee further improvement in PKR value in coming months in the wake of higher inflows of dollars and increased attraction of local currency.
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