Rupee hits a one-year high against US dollar
KARACHI: The Pakistani currency hit a one-year high against the US dollar in the inter-bank market on Tuesday as the inflow of foreign currencies soared.
According to the State Bank of Pakistan (SBP), the rupee stood at Rs157.84 on Tuesday as compared to Rs158.03 on Monday indicating a strengthening of the currency.
As per the experts, the appreciation of the rupee will aid in curtailing inflation as Pakistan predominantly relies on imported raw materials, machinery, and food items.
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