Rupee strengthens as dollar continues to shed value

Falling demand coupled with a surge in supply pushed the dollar's price in the open market on Wednesday in early trade and greenback is trading at Rs159.96.

The Pakistani rupee had continued with the bullish trend on Tuesday, gaining Rs2.37 against US dollar in the interbank market to close at Rs161.12, as against the previous close at Rs163.49.

According to analysts, this decline in US dollar would help reduce burden on debt by Rs 540 billion.