Rupee posts minor gains against US dollar

KARACHI: The Pakistani rupee appreciated 22 paisas against the United States (US) dollar in the inter-bank currency market on Thursday.

According to the State Bank of Pakistan (SBP), the local currency closed at Rs156.74 against the greenback, registering appreciation of 22 paisas over previous close of Rs156.96.

The rupee has recovered more than Rs12 during the last ten months since it touched an all-time low of Rs168.43 last year in August.

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