KARACHI – Pakistani rupee, which has been recovering after a major fall to a record low, continued its upward momentum on the first working day of the week against the dollar, appreciating nearly 0.23 percent in the inter-bank market.
During intra-day trading, the local currency hovered at 259.40 against the greenback, appreciating Rs0.59 in the inter-bank market.
The local currency of crisis hit Pakistan remained in a commanding position following an inflow of $700 million from China.
Rupee continued its upward trajectory spree since it hit its all-time low of over 276 earlier this month. Besides improvement in dwindling currency, the country’s foreign exchange reserves also increased after remaining critically low.
Today s currency exchange rates in Pakistan – Dollar, Euro, Pound, Riyal rates on February 27, 2023
The development comes as cash-strapped Pakistan is getting close to secure bailout from the International Monetary Fund after taking stringent measures including tax increases to boost their beleaguered economy.
