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Pakistani rupee moves up against dollar for third day
The Pakistani rupee strengthened against the dollar on Tuesday for the third straight session Pakistani rupee moves up against
The Pakistani rupee strengthened against the dollar on Tuesday for the third straight session as the nation secured funding from China while virtually ongoing talks with the IMF for bailout funds.
During the opening hours of trading, the local currency showed marginal gains against the US dollar and was up 0.44 percent. In the interbank market, the PKR was quoted at 276.70, up Rs. 12.22 against the soaring US dollar.
The local currency settled at 277.92, with an appreciation of 0.19% against the US dollar on Monday as foreign exchange reserve held by the country’s central bank shored up after receiving a lifeline of $500 million from the Industrial and Commercial Bank of China (ICBC).
