PKR continues winning streak, gains 89 paisa in interbank
Business
The greenback closed at Rs175.52.
KARACHI (Dunya News) – The exchange rate of US Dollar weakened by 89 paisa in the interbank on Thursday against Pakistani rupee.
The greenback closed at Rs175.52 on fourth business day of the week compared to previous closing of Rs176.41.
— SBP (@StateBank_Pak) February 3, 2022
The gains are mainly on the positivity stemmed in a market due to the IMF board’s approval to release of the 6th tranche of $1 billion under the Extended Fund Facility (EFF) program for Pakistan.
With the approval of the $1bn loans, the IMF’s lending under the program will increase to $3bn. The remaining $3bn will be disbursed after completing the remaining program reviews.
