Business
US Dollar continues to depreciate against PKR
Karachi: US dollar on the fifth day of the trading week continued to decline against Pakistani Rupee (PKR) in the interbank market.
According to the data released by the State Bank of Pakistan, the dollar depreciated by 36 paisas in the interbank market. Whereas, according to Forex dealers the US dollar fell from Rs158.46 to close at Rs158.10 in the interbank market.
On the other hand, the buying rate of the US dollar in the open market was Rs158.1 while its selling rate was Rs158.7 on February 26.
“Positive sentiment prevailed due to increased inflows from expatriate Pakistanis in Roshan Digital Account (RDA) Scheme. We expect the rupee could gain more in days ahead and will touch the Rs158/dollar level soon,” he added.
In the last five months since RDA was launched, more than 92,000 accounts have been opened by overseas Pakistanis living in 97 countries.