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.
