The Pakistani rupee experienced a slight increase against the US dollar, appreciating by 0.05 percent in inter-bank market trading on Wednesday.
At midday, the rupee stood at 279.30, showing a rise of Re0.13 in the inter-bank market.
On the previous day, the rupee had weakened by 0.11 percent, settling at 279.43 against the US dollar.
In a related development, the State Bank of Pakistan (SBP) expressed optimism about a future improvement in remittance inflows to Pakistan, citing a substantial rise in labor migration.
Pakistan has witnessed increased labor migration in FY22 and FY23 compared to the preceding two years. During FY23, around 0.8 million Pakistani workers were registered through the Bureau of Emigration and Overseas Employment (BEOE) and Overseas Employment Corporation (OEC).
