US dollar makes minor gain against rupee in interbank

KARACHI: The US dollar on Monday continued upward trend in the exchange market, although it made a minor gain against rupee today despite Pakistan getting a US$1.16 billion loan tranche from the IMF, ARY NEWS reported     

According to forex dealers, in interbank, the dollar traded at Rs219.47 after a hike in value against rupee by Rs0.49 while banks were selling it for Rs219.80.

In open market, the greenback traded between Rs225 and Rs227.

It is pertinent to mention here that the rupee faced a setback on Friday after it shed its value against US dollar in the interbank on Friday, a day after the State Bank of Pakistan received a loan tranche from the International Monetary Fund (IMF).

According to forex dealers, the rupee moved downwards by Rs0.38 against US dollar and traded at Rs218.98 as the banks are selling the greenback at Rs219.30. In open market, the dollar is being traded between Rs223 and Rs225.

Interbank closing #ExchangeRate for todayhttps://t.co/MFDU1Xf7pn pic.twitter.com/gGrWtxguqC

— SBP (@StateBank_Pak) September 2, 2022

The State Bank of Pakistan has confirmed on Wednesday that Pakistan has received a loan tranche of US$1.16 billion from the IMF.

2/2 This will help improve SBP’s foreign exchange reserves and will also facilitate realization of other planned inflows from multilateral and bilateral sources.

— SBP (@StateBank_Pak) August 31, 2022