Pakistani Rupee appreciated by 4 paisas (+0.03 per cent) against the US Dollar on Friday.
According to the State Bank of Pakistan, the US Dollar opened at Rs157.16 and closed at Rs157.12. The dollar has fallen to its lowest level witnessed in the last one year. The rupee has gained Rs1.98 against the greenback since February 19.
Currency experts said that demand for the foreign currency remained high due to upcoming two weekly holidays. However, inflows of workers’ remittances and export receipts helped the rupee make gains.
Export receipts have increased by 4.3pc to $16.3 billion during the first eight months (July – February) of 2020/2021 as compared with $15.6 billion in the corresponding period of the last fiscal year, according to data released by Pakistan Bureau of Statistics on Friday.