Dollar hammered by Pakistani rupee

The Pakistani rupee hammered the US dollar in the inter-bank trading on Friday morning, reported 24NewsHD TV channel.

The American currency lost 39 paisas against the Pakistani rupee accumulating its value depreciation to one rupee and three paisas during the last five days.

The healthy surge in remittances and a spike in exports are being counted as the reasons for lowering of pressure on the rupee.

After early Friday’s dent, the dollar has now sunk to its lowest in three months at Rs158.07, said forex dealers.

Forex expert Asad Rizvi opined that overseas Pakistanis have praised Pakistan Roshan Digital Accounts for sending their remittances.

Rizvi said the appreciation in the value of the rupee was also due to the 550 million dollars sent by the expats into the Roshan Digital Accounts in a short period of time.