KARACHI: The Pakistani rupee appreciated 48 paisas against the United States (US) dollar in the interbank currency market on Tuesday.
According to the State Bank of Pakistan (SBP), the local unit closed at Rs157.74 against the greenback, registering appreciation of 48 paisas over previous close of Rs158.20.
Interbank closing #ExchangeRate for today:https://t.co/buCaoQaFEE pic.twitter.com/3WbIn0OcL7
— SBP (@StateBank_Pak) June 29, 2021
The Pakistani rupee touched an all-time low of 168.43 last year in August before recouping some losses to hit a 22-month high of Rs152.95 in April.
The local unit gained considerable ground on the back of improved foreign exchange reserves, current account surplus, and higher remittances besides less demand of dollar due to the pandemic.