The Pak Rupee gained another 1.11 PKR against dollar amid hope of successful IMF loan program. The US dollar which had soared to historic highs in the recent past has taken a downwards trajectory against the Pakistan Rupee. Consequently, the greenback is being traded at Rs156.50.
The buying and selling of dollar was recorded at Rs156.50 / Rs157.50 the same previous day’s closing in cash ready market. The value of US dollar also dipped by Rs 4.05 last Friday. The rupee witnessed record low at Rs164.05 to the dollar on June 27. However, since then the local unit recovered Rs6.43 against the greenback on expected positive outcome of IMF board meeting on Pakistan loan program.
According to experts, the government must ensure implementations on economic policies after the deal with the International Monetary Fund (IMF). It is anticipated that the US dollar rate would fluctuate for some time, and the value of the Pakistani rupee would stabilize after proper implementation of the economic policies.
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