Rupee appreciates by Rs2.83 against dollar in interbank
Business
The expectation of an agreement with the IMF is apparently strengthening the local currency
KARACHI (Dunya News) - The Pakistani rupee continued to appreciate against the US dollar for the second consecutive day on Thursday.
The local currency was being traded at Rs270.50 per dollar in the interbank market at around 11am with an appreciation of Rs3.83 from yesterday’s close of Rs273.33, data shared by the Exchange Companies Association of Pakistan (Ecap) showed.
In the open market, the greenback was being traded at Rs274 after depriciation of Rs3.
Analysts are attributing the recovery to expectations that the government would reach an agreement with the International Monetary Fund (IMF).
-- More to follow
