Rupee strengthens against US Dollar

Author: inp

The US dollar has decreased in value against the Pakistani rupee in the foreign exchange market. According to currency dealers, on the first day of the business week, the rupee gained further strength in the interbank market, as the value of the US dollar decreased by 11 paisas to Rs278.20 in the interbank market. On the last day of the last business week, the value of the dollar had decreased in the interbank exchange market. After a decrease of 15 paisas in the value of the American currency, its value reached Rs278.25. It should be noted that in the roundtable meeting with Bloomberg in Washington last week, the finance minister said that Pakistan’s remittances and exports are increasing, the value of the rupee is unlikely to fall further in the negotiations with the IMF. It was further discussed that there is no justification for a traditional annual reduction of more than 8% in the value of the rupee. The economic growth rate will exceed 4% in the coming years.

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