Pakistani Rupee’s unbeaten streak reaches 10 weeks against USD

The Pakistani rupee (PKR) sustained its upward momentum during the outgoing week and gained 46 paisa to settle at PKR 279.9, as compared to the previous week’s closing of PKR 280.36/USD.

The stability arises from improved macroeconomic conditions in the form of increased liquidity in the foreign exchange market due to tighter enforcement of regulations, a shrinking money supply, a balance of payments surplus on account of low import demand, and a moratorium on Chinese debt repayments.

spot_img

More like this

Govt likely to reduce Petrol Price by up to...

In a positive development for inflation-hit masses, the federal government could likely reduce the petrol price by...

RDA inflows surged by 31% MoM in May

Total inflows into Roshan Digital Accounts (RDA) reached $224 million in May 2024, bringing the cumulative total...

IMF and Pakistan has reached a staff level agreement...

The International Monetary Fund (IMF) has reached a staff-level agreement with Pakistan on the final review of...