KARACHI (Channel News) — On Friday, the Pakistani rupee rose strongly against the US dollar, gaining Rs1.73 in the interbank currency market.
According to statistics provided by the State Bank of Pakistan (SBP), the domestic unit concluded at Rs176.51 versus the US dollar, while the rupee gained Rs1 from the previous concluding unit of Rs177.51.
According to experts, the government has agreed to the IMF’s terms, and Pakistan would get $1 billion from it.
Meanwhile, they have stated that Pakistan may soon get financing from the Asian Development Bank (ADB) and the World Bank.
Earlier this month, the Pakistani rupee (PKR) fell 18 paisas to end the transaction at Rs 177.89 per US dollar, down from Rs 177.71 the previous session.
The local unit moved in a range of 55 paisa per USD during the session, with an intraday high bid of 178 and an intraday low offer of 177.45.
According to the Exchange Companies Association of Pakistan (ECAP), the rupee fell 90 paisa for purchasing and 60 paisa for selling on the open market, closing at 179.80 and 180.50, respectively.
Meanwhile, the rupee fell 78 paisas against the Pound Sterling, with the day’s closing value at Rs 235.34 per GBP, down from Rs 234.55 per GBP the previous session.
Similarly, the value of the greenback fell by 28 paisas versus the euro, which finished at Rs 200.83 at the interbank today.
