Pakistani rupee has gained strength by 20 paisa against the U.S. dollar in the open market, and hit Rs154.90 in the early trading hours on Wednesday.
On the other hand, the local currency remained stable in the interbank market against the greenback with trading at Rs154.83 . The imminent signing of the Phase One trade deal between the U.S. and China later this week has further supported market sentiment to head the trading in a particular direction.
The apparent change in the rate between the dollar and the rupee has been due to the falling demand for the greenback owing to the decline in imports, whereas the increase in dollar from lending agencies and foreign investment in the government papers helped stabilise rupee-dollar parity.
