Rupee continues recovery against US dollar

KARACHI: The rupee rose further against the US dollar in the interbank market on Thursday, ARY News reported.

According to foreign currency dealers, the US dollar is trading at Rs181.35 after depreciating 0.47 paisa against the local currency in early trade.

In open market, however, the US dollar is trading at over Rs182.

The Pakistani rupee had closed at Rs181.82  against the greenback in the interbank market on Wednesday.

Interbank closing #ExchangeRate for todayhttps://t.co/Gf9kZrroSC pic.twitter.com/SKpegXDM2n

— SBP (@StateBank_Pak) April 13, 2022

As per economic experts, the rupee showing signs of recovery on political stability in the country and low demand for the greenback from importers.

Meanwhile, the State Bank of Pakistan (SBP) on Thursday shared that the workers’ remittances soar to highest level in history in March 2022.

REMITTANCES REACH ‘HIGHEST LEVEL IN HISTORY’ DURING MARCH 2022: SBP

Taking to Twitter to share the details, the SBP said that workers’ remittances rose to their highest level in history at US$2.8 billion in March 22.

“Cumulatively, remittances have risen to $23 billion during the first 9 months of FY22, up 7.1% over the same period last year,” the central bank said.

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