The US dollar depreciated against the Pakistani rupee, reaching a 9-month low according to reports on Tuesday.
The rupee-dollar parity now stands at Rs99.90 in the interbank market, decreasing by Rs1.52 today. An inflow of investment in fiscal year 2013-14 also helped shift market sentiments in favour of the rupee. According to the SBP, Pakistan received foreign direct investment (FDI) of $523 million in the first seven months of 2013-14. FDI amounted to $106.9 million in January alone.