Pakistani Rupee continued its appreciation for the third consecutive day against the US dollar.
The Rupee closed at Rs. 153.01 to the USD today (April 8), up from Rs. 153.17 to the USD in the interbank market on Wednesday (April 7), with an appreciation of 16 paisas.
Dealers said fewer import payments and healthy inflows helped the Pakistani Rupee to regain ground during the session.
The downfall for PKR at the beginning of this week may be explained by the buying pressure of dollars from importers and corporates.
Experts said that the demand for the greenback was temporary.
According to the dealers, the Rupee is strengthening due to improved external position and lower demand for import payments. The inflows as approved by the IMF, the World Bank, and the Asian Development Bank have created a positive sentiment for the currency. This also hints at a further appreciation for PKR in the coming weeks.
Against other major currencies as well, PKR posted blanket gains in the interbank currency market today.
PKR posted a gain of 52 paisas against the Euro, Rs. 1.6 against the Pound Sterling (GBP), 20 paisas against the Australian Dollar (AUD), 28 paisas against the Canadian Dollar (CAD), and 4 paisas each against the UAE Dirham (AED) and the Saudi Riyal (SAR) today.