Pakistani Rupee rises against US dollar
The Pakistani Rupee (PKR) continued its recovery against the US Dollar (USD) and posted more gains during intraday trade today.
It appreciated by 0.22 percent against the USD and closed at Rs. 238.84 after gaining 53 paisas in the interbank market today. The local unit quoted an intra-day low of Rs. 240.375 against the USD during today’s open market session. Since the regime change, the greenback is still up by Rs. 50.97 against the PKR.
The rupee closed in the green for the second consecutive day after the Ministry of Finance and the State Bank of Pakistan (SBP) released a joint statement to outline the nation’s progress in the fiscal year 2022-23. Also, both institutions assured that all actions for the International Monetary Fund’s (IMF) review were completed and the Executive Board’s meeting for the release of the $1.2 billion loan is expected in August.