HomePAKISTANPak Rupees bleeds green continuously hits year high

Pak Rupees bleeds green continuously hits year high

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According to the State Bank of Pakistan (SBP), the rupee rose to an annual high of 155.74 rupees against the US dollar on March 17,2021, compared to Monday's end of 156.99 rupees.

The dollar was traded at 156.58 rupees on March 9, 2021. The local currency has gradually moved up as a result of improved foreign exchange reserves, higher money transfers and balance of payments surpluses against the greenback.

The dollar is down more than 7 percent against the rupee after reaching a full-time high of Rs 168.43 in August 2020.

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The SBP had previously devalued the rupee in the interbank market following an agreement with the International Monetary Fund (IMF) on a loan program on May 12, 2019.

The IMF has asked Pakistan to end state control of the rupee and to allow the currency to move freely to find its balance against the US dollar and other major world currencies.

Adnan
Adnanhttps://lifeinpakistan.net/%20
Adnan is a passionate writer and analyst with a keen focus on current affairs, technology, and business developments in Pakistan. With a sharp eye for detail and a deep understanding of socio-economic trends, he provides insightful commentary on the issues shaping Pakistan's future.His work spans breaking news, in-depth tech reviews, and business analyses, offering readers a well-rounded perspective on Pakistan's evolving landscape. Whether covering startup ecosystems, government policies, or digital transformations, Adnan strives to deliver accurate, engaging, and thought-provoking content.Follow his writings to stay informed on the latest developments in Pakistan’s tech industry, economic shifts, and pressing national issues

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