Pakistani rupee shows slight recovery against US dollar

KARACHI: Pakistani Rupee made slight recovery Rs 0.54 against the US dollar in the interbank market, ARY News reported on Monday, quoting State Bank of Pakistan (SBP).  

Interbank closing #ExchangeRate for todayhttps://t.co/GKVH94C1Cq pic.twitter.com/wPytmPfx4m

— SBP (@StateBank_Pak) March 6, 2023

According to details, the Rupee kickstarted the week on positive note as its gained Rs 0.54 against the dollar in the interbank market to close at 277.92.

Earlier in the day, it was reported that the Pakistani rupee gained Rs 1.13 against the US dollar in the interbank market.

Earlier, after plummeting to an all-time low, the Pakistan rupee on Friday recovered against the US dollar after Finance Minister Ishaq Dar’s assurances of striking a deal with the International Monetary Fund (IMF).

Read more: PAKISTANI RUPEE RECOVERS ON RENEWED IMF DEAL HOPES

The local currency was appreciated by R6.63 in the interbank market and closed at 278.46 against the greenback, according to the State bank of Pakistan (SBP).

The Pakistani rupee plunged by nearly Rs19, or 6.66%, against the US dollar to close at 285.09 against the dollar in the interbank market.