Pakistani rupee registers gains against dollar amid IMF talks

KARACHI – Pakistan’s rupee has been on an upward trajectory on Wednesday against the dollar, appreciating nearly 0.96 percent in the inter-bank market during trading.

The rupee was quoted at 273.65 during intra-day trading, with an improvement of Rs2.63 today.

On Tuesday, PKR closed at 276.28 against the US dollar, a depreciation of Rs0.98 or 0.35%.

The upward trajectory comes in light of continued talks between the Sharif-led government and the IMF for the revival of stalled funds.

Earlier, the Exchange Companies Association of Pakistan removed the cap on the greenback to end ‘artificial’ demand in the market, and the hot currency gained momentum in recent times.

Pakistani rupee slumps to all-time low of 255 against dollar in inter-bank market