5.1 C
New York
Saturday, June 22, 2024

USD to PKR: The Pakistani rupee gains Rs0.59 against the US dollar in interbank trading.


In Karachi. On the first working day of the week, the Pakistani rupee, which has been recovering after a significant decline to a record low, maintained its upward trend versus the dollar and increased by approximately 0.23 percent in the inter-bank market.

The local currency fluctuated at 259.40 against the dollar during intraday trade, rising by Rs0.59 in the interbank market.

After receiving $700 million from China, Pakistan’s local currency maintained its dominant position in the country’s crisis-hit economy.

Since hitting its record low of over 276 earlier this month, the rupee has been on an upward motion rampage. Along with the strengthening of the country’s declining currency, its foreign exchange reserves also rose after years of being at an all-time low.

The development occurs at a time when After strategy can improve measures, such as tax rises, to support its struggling economy, Pakistan is almost certain to receive a bailout from the International Monetary Fund.


Please enter your comment!
Please enter your name here

Share post:


More like this

How to Find Barclays Bank Phone Number

In the fast-paced world of finance, having quick and...

Punjab begins a very strict crackdown as cases of vision loss increase

No hospital, laboratory, or pharmacy in Pakistan has a...

Elections are possible without Imran Khan: Kakar

Last week, the ECP announced that general elections will...

IHC orders authorities to shift Imran Khan to Adiala jail

Court orders Khan's shifting as he is now under...