- The rupee closes at Rs167.25 against the US dollar in the inter-bank market on Wednesday.
- Going forward, the value of local currency depends on remittances and current account data.
- Alpha Beta Core CEO Khurram Schehzad predicts that the rupee will remain volatile for the next 2-3 months.
KARACHI: The Pakistani currency appreciated around 0.23%, or 38 paisas, to close at Rs167.25 against the US dollar in the inter-bank market on Wednesday.
According to the daily data released by the State Bank of Pakistan, the rupee closed at Rs167.63 in the inter-bank market on Tuesday (September 7).
Going forward, the local currency value depends on remittances and current account data. If the current account posts another deficit of over $773 million — which was recorded last month — the currency will lose ground against the greenback.