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Pak Rupee strengthens by 11 paisas against USD

Pak Rupee strengthens by 11 paisas against USD

KARACHI: The Pak Rupee gained 11 paisas against dollar on Monday owing to improved economic indicators.

The rupee ended Rs162.38 to the dollar from last Friday’s closing of Rs162.49 in interbank foreign exchange market.

The currency experts said that positive sentiments were prevailed during the day due to foreign inflows in shape of export receipts and workers remittances.

Workers’ remittances remained above $2 billion for the fourth consecutive month in September.

They increased to $2.3 billion, 31.2 percent higher than the same month last year and 9 percent higher than in August, the State Bank of Pakistan (SBP) recently said.