For the sixth session in a row, the Pakistani rupee appreciated versus the US dollar on Thursday during intraday day activity in the interbank market.
In relation to the dollar, the rupee increased by 5.79 and closed at Rs. 223, down from Rs. 228.80 on Wednesday. The dollar dropped by 9.8 or 4.19 percent the previous day, which led to a substantial increase in the rupee.
Malik Bostan, the chairman of the Exchange Companies Association of Pakistan (ECAP), said on Geo Pakistan that the previous administration’s promises would take time to fulfil. However, this time, just a few days after Finance Minister Miftah Ismail stated that Pakistan’s import bill would decrease, it actually decreased by $2 billion.
According to data from the Pakistan Bureau of Statistics (PBS), imports have decreased by 38.3 percent over the past month as a result of the government’s decision to ban a variety of luxury goods in order to address the…
