Pakistani Rupee hits highest level of FY 2019-20 against US Dollar

Author: Web Desk

In signs of economic recovery, Pakistani Rupee hits highest level of FY 2019-20 against US Dollar in the interbank market.

The Pakistani currency rose to a four-month high against the U.S. dollar by gaining another 8 paisa in the interbank market on Monday. The rupee recovered to Rs155.98 during the early trade hours and the open market is expected to follow the similar trend.

According to economists, international currency rates and devaluation may have affected currency rates in Pakistan.

On Sunday, the World Bank forecasted Pakistan’s economic growth to slow down for the next two years as it faces yet another macroeconomic crisis due to massive twin deficits and low foreign reserves.

Share
Leave a Comment

Recent Posts

  • Technology

Digital Innovation: Transforming Pakistan’s Trade Infrastructure

  Pakistan's logistics industry stands at a critical crossroads, grappling with significant challenges that impede…

3 hours ago
  • Top Stories

EU expresses concern over military court sentences against May 9 rioters

The European Union (EU) has expressed concern over the sentencing of 25 individuals involved in…

3 hours ago
  • Pakistan

Ahsan Kamray Elected President of Lahore Garrison University Alumni Association

Lahore Garrison University (LGU) celebrated a milestone event as its Department of Mass Communication organized…

3 hours ago
  • Fashion

Neo Hum Bridal Couture Week 2024: Grand Finale Celebrates Fashion and Social Change

Lahore, Pakistan – December 22, 2024 – The highly anticipated finale of Neo Hum Bridal…

3 hours ago
  • Top Stories

US lifts $10 million bounty on new Syrian leader after talks in Damascus

The United States has removed a $10 million bounty on Ahmed al-Sharaa, the leader of…

3 hours ago
  • Pakistan

Accountability Court postpones verdict in £190 million case

An accountability court hearing the £190 million case involving Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan…

3 hours ago