Pak Rupee rise to a five-month high against the dollar

KARACHI – The rupee in the open market rise to its five-month high as demand for the dollar fall owing to a decline in imports.

An increase in the dollar from lending agencies and foreign investment in rupee also helped stabilize the rupee-dollar parity.

The dollar was traded as low as 154.70 rupees in the open market on Saturday which was much lower as compared to 164 rupees on June 26 this year.

Currency dealers foresee the rupee to rise further in the coming months in the wake of higher inflows of dollars and increased attraction of local currency.