Rupee gains against US dollar in interbank market

KARACHI: The Pakistani rupee extended gains against the US dollar in the interbank market on Tuesday, ARY News reported.

According to State Bank of Pakistan (SBP), the local currency closed at 206.87 after appreciating Rs1.07 against the greenback in interbank

In the open market, however, the greenback is sold between Rs207 to Rs209.

The US dollar closed at Rs207.94 on the other day.

As per economic experts, the rupee showing signs of recovery after Pakistan and International Monetary Fund (IMF) have reached a deal for the release of a US$1 billion tranche after the latter gave its nod to the budgetary adjustments for fiscal year 2022-23.