Following decline in the country’s current account deficit, the Pakistani rupee on Tuesday witnessed another recovery session as it gained 20 paisas against the US dollar in the interbank marking, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 20 paisas against the greenback and settled for the day at Rs283.01.
On Monday, the Pakistani rupee has recorded a minor gain of five paisas against the US dollar in the interbank and settled for the day at Rs283.21.
The gradual but slow drop in dollar’s rate is impacting other sectors in Pakistan. The current account deficit declined by 64 percent or $2 billion in the July to November period of fiscal year 2023-24, which had a positive impact on the value of rupee against the greenback.
In a related development, the government over the weekend had heavily slashed the petroleum prices bringing down petrol rate by Rs14 per litre and diesel’s by Rs13.50 per litre.
Reporter Ashraf Khan