The Pakistani Rupee continued its winning streak against the US Dollar and reached Rs278.50 in the interbank trading at the start of the trading session on Friday. The rupee appreciation continued against the US dollar on the last business day of the trading week. The USD closed at Rs278.81 on Thursday in comparison to Rs280.29 on Wednesday in interbank trading aginst PKR. The SBP on Thursday said the country’s current account deficit declined to $8.0 million in September 2023 as compared to the current account deficit of $360 million in the same month in 2022.

The country’s current account deficit was $164 million in August 2023. During the first three months of the current fiscal year FY24 (from July 2023 to September 2023), the country’s current account deficit declined to $947 million as compared to $2.258 billion in the same period last year.

 Credit: Independent News Pakistan (INP)