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Rupee strengthens against US dollar as SBP receives IMF loan

sbp, dollar, rupee, imf loan,

KARACHI: The rupee strengthened against the US dollar on Thursday after the State Bank of Pakistan confirmed received the loan tranche of US$1.16 billion from the IMF in the treasury, ARY NEWS reported.

According to forex dealers, the US dollar shed value by Rs1.50 against rupee and traded at Rs217.25 while banks sold the greenback at Rs217.75.

In open market, the US dollar traded between Rs216 and Rs218.

On August 31, the Pakistani rupee continued its upward trajectory and gained Rs1.37 against the US dollar, bringing the interbank rate down to Rs219.75.

According to the data shared by the State Bank of Pakistan (SBP), the Pakistani rupee closed at Rs219.75 after gaining Rs1.37 against the greenback, up 0.63 percent.

In the open market, the greenback was being sold at Rs219 to Rs221, according to data shared by the Forex Association of Pakistan (FAP).



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