The rupee strengthened against the US dollar at Rs170.87 in the inter-bank market on Thursday compared with Wednesday’s close of Rs170.96, according to the State Bank of Pakistan (SBP).
On October 6, 2021, Pakistani currency closed at an all-time low of Rs170.96 as demand for the foreign currency stood higher compared to its supply in the wake of increase in import payments, rising global commodity prices and worsening financial situation in Afghanistan.
The rupee has maintained its downturn since hitting a 22-month high of Rs152.27 in May 2021.
Published in The Express Tribune, October 8th, 2021.
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