Rupee strengthens against US dollar in interbank

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KARACHI: The Pakistani rupee continued to recover against the United States (US) dollar in the interbank currency market on Thursday, ARY News reported.

According to foreign currency dealers, the local unit closed at Rs174.98 against the greenback in the interbank market after appreciating by 6 paisas.

The dollar had closed at Rs175.04 against the rupee the other day.

Also Read: Pakistan, IMF reach staff-level agreement on revival of $6bn loan

The local unit snapped losing streak on Monday after the International Monetary Fund (IMF) announced the resumption of the stalled $6 billion Extended Fund Facility (EFF).

It is pertinent to mention here that Pakistan and the International Monetary Fund (IMF) have reached a staff-level agreement on revival of $6 billion Extended Fund Facility (EFF) that was suspended in April this year.

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