Pakistan’s rupee registered a marginal gain against the US dollar in the inter-bank market, increasing 0.06% during the trading session on Thursday.
At around 10:30am, the rupee was being quoted at 228.77 during intra-day trading, an appreciation of Re0.14.
On Wednesday, the rupee had registered a loss for the 21st consecutive session against the US dollar to settle at 228.91 after a decrease of Re0.25 or 0.11%.
Governor State Bank of Pakistan (SBP) Jameel Ahmad on Wednesday expressed optimism that Pakistan’s foreign exchange reserves position will improve as the country is expected to witness inflows of funds in the coming days.
Ahmad said that the UAE has rolled over $2 billion loan and assured the businessmen of facilitating their imports on a suppliers’ credit.
Moreover, Pakistan’s current account deficit declined sharply 60% during the first half of this fiscal year (FY23) mainly due to a lower import…