Pakistani rupee has further regained its value against the U.S. dollar by 15 paisa in the interbank market and traded at Rs154.90.
Pakistani currencyhas strengthened to hit a five-month high against the greenback fall owing to decline in imports, higher flow of foreign funds and positive macroeconomic news from the South Asian country.
The rupee has recovered by Rs8.60 so far, which in turn reduced the state’s foreign debt by Rs860 billion since June this year. On June 26, the dollar traded as high as Rs164. Currency dealers foresee rupee to rise further in coming months in the wake of higher inflows of dollars and increased attraction of local currency.
Increase in foreign investment and increased inflow of Dollars helped stabilise the rupee-dollar parity. Similarly, Asian Development Bank also approved $1 billion emergency loan as budgetary support which will help further to strengthen Pakistani rupee against Dollars.