KARACHI: The Pak Rupee gained 15 paisas against the dollar on Friday owing to significant inflows of workers’ remittances and improved foreign exchange reserves of the country.
The rupee ended Rs160.14 to the dollar from previous day’s closing of Rs160.29 in the interbank foreign exchange market.
Currency dealers said that positive sentiments prevailed in the foreign exchange market owing to improved foreign exchange reserves and inflows of workers remittances.
The liquid foreign exchange reserves of the country have increased by $160 million to $20.402 billion by week ended December 04, 2020, State Bank of Pakistan (SBP) said on a day earlier. The foreign exchange reserves of the country were at $20.242 billion by week ended November 27, 2020.
During the first five months of FY21, workers’ remittances have reached an unprecedented level of US$ 11.77 billion, 26.9 percent higher than the same period last year.
