The Pakistani rupee has managed to maintain its hold against the US dollar and shed only 37 paisas in the interbank trading, reported 24NewsHD TV channel.

As per the State Bank of Pakistan, the local unit was depreciated by 37 paisas against the greenback during Wednesday’s interbank session, ending the day at Rs283.92. 

https://twitter.com/StateBank_Pak/status/1641017856870731776

On Tuesday, the Pakistani rupee registered a small recovery of three paisas against the US dollar which ended the day at Rs283.55 in the interbank.

https://twitter.com/StateBank_Pak/status/1640649322642456578

According to money experts, the rupee has resurged a bit following the fact that demand for dollar for imports and other corporate payments has been eased. 

Besides, country’s current account deficit has also contracted significantly. 

According to the State Bank of Pakistan, the current account deficit recorded at $3.86 billion during the first eight months of the present fiscal year as compared with the deficit of $12.08 billion in the corresponding period of the last fiscal year.

 

Reporter Ashraf Khan