The Pakistani Rupee has been getting stronger against the US Dollar and reached Rs278.50 at the beginning of trading on Friday.
This trend of the rupee gaining value against the dollar continued on the last business day of the week.
On Thursday, the exchange rate was Rs278.81 for one US Dollar, while on Wednesday, it was Rs280.29 in interbank trading against the Pakistani Rupee.
The State Bank of Pakistan (SBP) announced that in September 2023, the country’s current account deficit reduced to $8.0 million. This is a significant improvement compared to a deficit of $360 million in September 2022.
In August 2023, the current account deficit was $164 million.
For the first three months of the current fiscal year, which runs from July 2023 to September 2023, the country’s current account deficit decreased to $947 million, a marked improvement from $2.258 billion during the same period last year.