KARACHI – Pakistani rupee continued to extend gains against the dollar on Tuesday, rising by Rs2.59 in the interbank market.
During the inter-day trading, the local currency was quoted at 266.85. The slight gain comes after PKR witnessed a decline against the US dollar on the first day of the week, closing at 269.44 against the greenback.
Experts linked the slight strengthening of the rupee primarily to ongoing talks with International Monetary Fund which resumed virtually as the government took stringent measures to unlock crucial funding.
Islamabad and US-based lender could not reach a deal and the visiting delegation of financial institutions left after 10 days of talks, but said negotiations would continue.
The country of 220 million is almost at the verge of debt default with the foreign exchange reserves held by central bank plunged to less than $ 3 billion while the rupee nosedived to a record low following the removal of an unofficial price cap on the exchange rate.
Today s currency exchange rates in Pakistan – Dollar, Euro, Pound, Riyal rates on February 14, 2023
