Wednesday, September 28, 2022

Rupee gains 4.38 against US dollar

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KARACHI: The Pakistani rupee on Friday gained Rs 4.38 against the US dollar in interbank trading, while the banks are selling the US dollar at Rs215, forex dealers said.

In open market, the dollar declined by Rs2 and traded between Rs212 to Rs213.

US dollar shed Rs4.38 in the interbank today and traded at Rs214.50.

The rupee got its strength amid an assurance from the IMF for the release of a USD1.17 billion tranche.

Read more: ALARM BELLS: PAKISTAN’S FOREX RESERVES PLUNGE TO LOWEST SINCE OCT 2019

The International Monetary Fund (IMF) has confirmed that Pakistan has attained all the set targets for the revival of the Extended Fund Facility (EFF) programme.

Exclusively talking to ARY News, International Monetary Fund’s (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has achieved all the financial targets set by the fund and the last action was accomplished on July 31 by extending the levy on petrol.

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