Rupee takes early lead against US dollar

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rupee US dollar

The Pakistani rupee again started the day Friday on positive note against the US dollar in the interbank trading.

As the forex dealers took positions, the Pakistani rupee gained 60 paisas against the greenback and was being traded at Rs218 down from Rs218.60.

On Thursday, the US dollar struck back at the Pakistani rupee after day-long hammering in the interbank trading. The greenback recovered all the losses against the and also gained 15 paisas in its value.

As the trading concluded on Thursday, the US dollar was up by 15 paisas and closed at Rs218.60.

The IMF on Monday revived Pakistan’s loan programme and its board approved the $1.17 billion loan disbursement thus paving the way for economic headway of otherwise forex reserves-starved country whose currency was fast losing its value.

It was hoped that after the IMF loan approval, the Pakistani rupee would be appreciated considerably but it could not happen.

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