Pakistani Rupee strengthens against US dollar on March 8

KARACHI: In spite of some economic difficulties, the Pakistani Rupee is improving against the US dollar.

As per an article published by Khaleej Times, strong remittances, debt relief, and rising exchange reserves are contributing to the appreciation of the currency.

At the beginning of the year, USD 1 valued at 160.99 and is now valued at 157.13 Pakistani Rupee, reflecting a decline in the value of the dollar by 2.4% compared to Pakistani Rupee in the calendar year.

However, Dirham’s value dropped from 43.72 Pakistani Rupee on 1 January to 42.78 Pakistani Rupee today, 8 March, showing that Pakistani Rupee was worth 2.6 per cent against Emirati Dirham.

The latest state bank data shows that the country’s GDP is forecast to rise by 2.5 percent in the current FY21, after reaching 0.4 percent last year. This is due to the government’s recent reform measures, which have yielded success.

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