Rupee hits five-month high against dollar

Rupee hits five-month high against dollar

Lahore (Web Desk): Pakistani rupee hit a five-month high as the dollar was trading at Rs163.20 in the interbank market on Wednesday.


The rupee has remained stable over the last two weeks, trading below Rs165 in the interbank market after peaking at Rs165.05 on October 1.

According to State Bank of Pakistan, the country has received significant inflows in the form of remittances in the last three months.

Cumulatively, inflows during July-September jumped 31.1 per cent year-on-year to $7.174 billion compared to $5.452 billion in the corresponding period last year.