Pakistani Rupee gains value against US dollar in interbank market
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KARACHI – Pakistani rupee continued its upward trajectory against the US dollar, appreciating 0.24 percent in the inter-bank market on Wednesday.
During the intra-day trading, the local currency was hovering at 283.25, with an improvement of Rs0.67 against the greenback in the inter-bank market.
On Tuesday, PKR continued positive momentum, settling at 283.92 against USD in the inter-bank market.
Pakistan’s forex reserves saw a boost from Chinese inflows which help the country to avert default however the cash-strapped nation is awaiting the resumption of stalled International Monetary Fund (IMF) programme.
As the economic uncertainty looms, IMF Resident Representative Office in Pakistan Esther Pérez Ruiz mentioned some more challenges for Pakistan before the release of bailout funds.
