US dollar falls below Rs153 against rupee

KARACHI: The Pakistani rupee appreciated 44 paisas against the United States (US) dollar in the interbank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs152.60 against the greenback, registering appreciation of 44 paisas (0.29%) over the previous close of Rs153.04.

Interbank closing #ExchangeRate for today:https://t.co/ppH16jlXrb pic.twitter.com/sySZsDVy81

— SBP (@StateBank_Pak) May 6, 2021

The local unit has gained considerable ground on the back of improved foreign exchange reserves, current account surplus, foreign loan receipts, higher remittances besides less demand of dollar due to the ongoing pandemic.

The rupee has recovered more than Rs15 during the last seven months since it touched an all-time low of Rs168.43 last year in August.