Pakistani rupee gained 3 paisas (+0.02 percent) against the US dollar in the interbank on Monday. According to the State Bank of Pakistan, the US dollar opened at Rs154.43 and closed at Rs154.40. Within the open market, the US dollar was traded at Rs155-156. The local currency shed Rs0.95 against the greenback last week.
However, the local unit has gained Rs13.66 against the greenback in the current fiscal year 2020-21 while appreciation has been Rs5.44 in 2021.
Currency experts said that due to the first trading day, the demand for the foreign currency was seen for import and corporate payments. They, however, said that the issuance of green bonds and inflows of remittances and export receipts helped the rupee make gains. They hoped the rupee would make further gains in the coming days due to positive sentiments related to foreign inflows and lower demand for import payments ahead of the budget 2021-22 announcement.
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