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Reading: Dollar drops to 9 month low against Pak Rupee
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PhotoNews Pakistan > Business > Dollar drops to 9 month low against Pak Rupee
BusinessPakistan

Dollar drops to 9 month low against Pak Rupee

Web Desk
By Web Desk Published March 11, 2014 1 Min Read
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 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.

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