KARACHI: The Pakistani Rupee has lost 22 paisas against the US greenback in the interbank market today despite higher inflows of the remittances.

“We are looking at an intervention of the State Bank of Pakistan (SBP) to keep the dollar strong,” said a banker of a government privatized bank in Karachi.

The dollar opened at Rs153.24 in the interbank market on Thursday, but the central bank was purchasing dollar from the market to keep it stable against the Pak-rupee, the sources claimed.

The banker said that higher inflows of the exporters and Roshan Digital Accounts (RDA) were supporting the local currency, while we are expecting higher remittances in the month of April and May this year owing to the Ramazan.

According to the SBP’s figures, Pakistani banks had received an amount of $805m till March 21 through RDA. This amount is gradually improving day by day. “This amount will exceed $900m in this month, the banker claimed.

According to the exchange companies, the dollar closed at Rs153.40 in the interbank market today.

A dealer said that rupee would further appreciate in the interbank and open currency markets in the coming days as we are looking higher inflows of the greenback through RDA.

From April 1 to April 22, the Pak rupee has gained 87 paisas against the US dollar in Pakistan, however, it gained Rs5.86 paisas in March 2021.

According to market dealers, the dollar opened at Rs153.30 for buying and Rs153.50 for selling in open currency market.


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