The Pakistan rupee continued its upward journey against the US dollar as on Wednesday the greenback suffered a loss of 71 paisas in the interbank trading and reached Rs157.13 at the closing time, reported 24NewsHD TV channel.

The exchange rate of the Pakistani rupee strengthened by 71 paisas against the US dollar in the interbank trading and closed at Rs157.13 as compared to the previous day’s closing of Rs157.84.

The TV channel reported that the dollar closed at one-year low in the interbank market against the Pakistani rupee. Since August 26, 2020, the US dollar depreciated by Rs11.33 against the Pakistani rupee.

Khurram Shehzad, an economist, said that the external debt burden has been reduced by Rs1,180 billion.

The Japanese Yen remained unchanged to close at Rs1.47, whereas an increase of 31 paisas was witnessed in the exchange rate of the British pound which was traded at Rs219.49 as compared to its last closing of Rs219.18.

Earlier on Tuesday, the Pakistani rupee strengthened against USD in both interbank and open markets opposite to movement in global currency markets where according to reports, the USD went up against riskier currencies in face of increasing US Treasury yields as compared to other countries.