KARACHI: The Pakistani rupee gained 20 paisas against the US greenback in the interbank market on Wednesday owing to the higher inflows of the remittances.

According to a banker, “The rupee remained strong in the interbank market because the inflows of remittances were higher compared to the outflows.” The local currency is strong and it will continue its upward trend till the Eid-ul-Fitr, he added.

The dollar opened at Rs 153.24 in the interbank market on Wednesday and closed at Rs 153.04, the banker said.

Throughout this week, the central bank kept on purchasing dollars from the market to keep the dollar rate stable against the rupee, he added.

According to the currency dealers, the dollar closed at Rs 153.10 for buying and Rs 153.30 for selling in the open currency market.

According to a dealer, the rupee would further appreciate in the interbank and open currency markets amid predictions of higher inflows of the greenback through the digital accounts.

According to the figures shared by the State Bank of Pakistan (SBP), the local banks have received an amount of $1 billion till April 29 through the Roshan Digital Accounts.


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