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Rupee Strengthens Against Dollar

Karachi: The rupee appreciated against the US dollar on Thursday, closing at Rs. 155.01 in the interbank market as opposed to Wednesday’s closure of Rs. 155.39. (SBP).

Read More: Rupee Posts Big Loss Against US Dollar Second Day in A Wow

Previously, after a loan programme agreement with the IMF was finalized on May 12th, 2019, the SBP s BP allowed the rupee to substantially deteriorate in the inter-bank market.

In order for the rupee to reach equilibrium versus the US dollar and other major foreign currencies, the IMF has requested that Pakistan stop exercising governmental control over the currency.

Read More: IMF Releases Third Portion of The $6 Billion Loan

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