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    Never seen a coward like PML-N supremo Nawaz Sharif in entire life: Imran Khan

    Never seen a coward like PML-N supremo Nawaz Sharif in entire life: Imran Khan

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    No one to be allowed to create anarchy, chaos in country: Rana Sanaullah

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    Qureshi regrets ‘no acknowledgement’ for Pakistan’s Kabul evacuation efforts

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    Schools in Sindh to remain closed for an indefinite period

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    Minar-e-Pakistan incident: 66 people arrested through geo-fencing, face matching

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    Boxer Amir Khan declines offer to join Pakistani politics

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    Never seen a coward like PML-N supremo Nawaz Sharif in entire life: Imran Khan

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    Rohri accident delays Karachi-Lahore passenger trains by 3-10 hrs

    Rehman Baba Express derails near Hyderabad

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    No one to be allowed to create anarchy, chaos in country: Rana Sanaullah

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    Schools in Sindh to remain closed for an indefinite period

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    PDM announces whitepaper on govt’s 3-year performance ‘exposing corruption, rigging’

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    Video of another woman being assaulted emerges, this time in Mirpur

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    Minar-e-Pakistan incident: 66 people arrested through geo-fencing, face matching

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    Maryam Nawaz channels her inner Halime Sultan at jalsa in GB

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    Boxer Amir Khan declines offer to join Pakistani politics

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    Atif Aslam’s song taken down from YouTube over outrage from Indian users

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    Kubra Khan thanks fans, friends for sweet birthday wishes

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    PM Imran Khan once more urges use of masks amid ‘dangerous third wave’

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    5G: Singapore telcos pick Nokia, Ericsson over Huawei

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    Twitter tests feature asking you to open article before retweeting

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Rupee gains 30 paisas to reach five-month high against dollar at Rs161.82

admin by admin
October 22, 2020
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Rupee gains 30 paisas to reach five-month high against dollar at Rs161.82
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KARACHI (Web Desk) The rupee gained 30 paisas against the dollar on Thursday to close the session at a five-month high of Rs161.82 against the greenback in the open market, data released by the Exchange Companies Association of Pakistan (ECAP) showed.

“The dollar is likely to hit Rs160 by December of this year, mainly on account of declining imports and a significant jump in remittances,” said ECAP Chairman Zafar Paracha.

The rupee’s appreciation comes on the heels of a record current account surplus of $792 million in the first quarter of the current fiscal year, as reported by the State Bank of Pakistan (SBP) on Wednesday. Higher inflows — to the tune of $2 billion per month over the last four months in the form of remittances — and lower outflows due to lower oil imports; debt suspension by the G20 countries; and a rebound in textile exports have helped stabilise the rupee.

The dollar peaked against the rupee at Rs168.43 on August 26 but has fallen more than 3.9 per cent or Rs6.61 since then.

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Ban imposed on new gas connections by previous govt will be reconsidered, NA told

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