KARACHI: On Friday, the local currency gained more value against the US dollar. The dollar lost Rs4.38 against the Pakistani rupee and traded at Rs214.5 in the interbank market. In the open market, the dollar traded between Rs212 and 213.
Director of Mettis Global Saad Bin Naseer said that exporters had played a vital role in strengthening the rupee as people who held dollars were bringing the proceeds to Pakistan. The decline in import bills, after the intervention of the government, had also helped in the rupee’s appreciation.
However, Saad showed concern over the current political instability and said that it could again steer the rupee downwards.