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Tuesday, December 24, 2024

Home Business Rupee closes at 226.15 against US dollar after 1.17pc appreciation

Rupee closes at 226.15 against US dollar after 1.17pc appreciation

by Web Desk Staff
August 4, 2022
in Business, Top News

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Karachi: Continuing its upward trend against the US dollar, the Pakistani rupee closed at 226.15 in the interbank at the end of today’s business day, the State Bank of Pakistan said.

The PKR posted an appreciation of 1.17pc against the USD.

Interbank closing #ExchangeRate for todayhttps://t.co/GD78ttsX5t pic.twitter.com/sYilynpk9d

— SBP (@StateBank_Pak) August 4, 2022

At one point, the PKR appreciated by 5 and reached 223 against the greenback, but it could not sustain the position.

Today’s appreciation followed Wednesday’s massive recovery when the PKR closed at 228.8, an appreciation of Rs9.58 or 4.19% against the greenback. That was the highest ever appreciation in the value of the local currency against the USD.

The significant recovery in the inter-bank market comes after the International Monetary Fund’s (IMF) statement citing that Pakistan has managed to meet all pre-conditions for disbursement of the next tranche of its bailout programme.

Read: Intra-day update: KSE-100 up by 800 points, Dollar down by Rs 7.38