Rupee gains marginal Rs0.15 against US dollar

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rupee dollar

Islamabad: Continuing its winning streak against the US dollar, the Pakistani rupee posted a marginal gain of Rs0.15 against the greenback in the inter-bank market on Thursday.

At the end of the session, the local currency appreciated by 0.07% to close at Rs218.60 against the US dollar, the State Bank said.

The winning streak that started with the approval of the IMF Executive Board for the disbursement of $1.16 billion in loan to Pakistan continued after the Fund disbursed the much-needed amount.

All you need to know about Pakistan, IMF deal

On Wednesday, the State Bank announced that it received proceeds of $1.16 billion (the equivalent of SDR 894 million) after the IMF Executive Board completed the combined seventh and eighth reviews under the Extended Fund Facility (EFF) for Pakistan.

“This will help improve SBP’s foreign exchange reserves and will also facilitate the realization of other planned inflows from multilateral and bilateral sources,” the central bank added.

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