Rupee ticks up against USD

KARACHI: In the currency market, on Tuesday, the rupee firmed to 86.00/06 to the dollar from 86.48/53 on Monday, amid soft dollar demand from importers.

Dealers said healthy remittances from Pakistanis living abroad were also supporting the rupee, but cautioned that a widening current account deficit means the local currency could experience downward pressure in the days ahead.

Pakistan's current account deficit surged to a provisional $908 million in September, compared with a deficit of $201 million in the previous month. (Reuters)