ISLAMABAD – Pakistani rupee continued its upward trajectory gain against the US dollar on Friday, moving up around 0.18 percent in the inter-bank market.
Data shared by the State Bank of Pakistan (SBP) suggests that the local currency closed at 284.40, with an increase of Rs0.51.
Interbank closing #ExchangeRate for todayhttps://t.co/3YA2ffeJWf pic.twitter.com/DN8Jx3hvLy
— SBP (@StateBank_Pak) April 14, 2023
On Thursday, the Pakistani rupee claws back against the dollar settling at 284.91 in the inter-bank market after a gain of Rs1.71.
The recent recovery comes in light of major development in IMF bailout programme as the United Arab Emirates (UAE) assured the global lender that it will provide $1 billion as bilateral support to the South Asian nation.
In another positive development, the Industrial and Commercial Bank of China (ICBC) is set to give Islamabad $300 million to boost dilapidating forex reserves. Finance Minister Ishaq Dar confirmed that the State Bank of Pakistan would receive back the third and last disbursement today in its account amounting to $300 million which shore up forex reserves.
