Pakistani rupee records 12th gain in a row against US dollar in interbank

Published: 07:15 PM, 28 Dec, 2023
Business
Pakistani rupee records 12th gain in a row against US dollar in interbank

The Pakistani rupee appreciated for the 12th consecutive session against the US dollar in the interbank market on Thursday, reported 24NewsHD TV channel.


According to the State Bank of Pakistan, the local currency gained 27 paisas against the greenback and ended the day at Rs281.93 against the greenback as compared to closing of Rs282.20 on the previous day.




In a related development, it was reported that the repatriation of profits and dividends on foreign investments plunged to just $46.8 million in November against the first four months’ average of $120 million, reflecting restriction on dollar outflows amid falling foreign exchange reserves.


The data issued by the State Bank of Pakistan showed the multinationals remitted $532.2 million to their respective destinations abroad during the July-November period of 2023-24.


 


Reporter: Ashraf Khan

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