ISLAMABAD: The exchange rate of Pakistan rupee strengthened by 97 paisas or 0.62 percent in a single day against the US dollar in the interbank trading on Wednesday and closed at Rs155.74 as compared to the previous day’s closing of Rs156.71.

According to Forex Association of Pakistan, the buying and selling rates of dollar in the open market were recorded at Rs155.7 and Rs156.6 respectively.

For several weeks, the local currency has been aligned on upward trend against the green back on the back of improved foreign exchange reserves, current account surplus and higher remittances.

Meanwhile, the price of euro was depreciated by Rs 1.5 and closed at Rs185.38 against the last day’s trading of Rs186.88, the State Bank of Pakistan reported.

The Japanese Yen lost one paisa to close at Rs1.43, whereas a decrease of 05 paisas was witnessed in the exchange rate of British Pound, which was traded at Rs216.50 as compared to its last closing of Rs 216.54.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by 16 paisas each to close at Rs 42.40 and Rs 41.52 respectively.