KARACHI: The Pakistani rupee rose further against the US dollar in the interbank market on Monday.
According to foreign currency dealers, the US dollar is trading at Rs206.25 after depreciating 0.73 paisa against the local currency in early trade.
In the open market, however, the greenback is sold between Rs208 to Rs209.
As per economic experts, the rupee showing signs of recovery after Pakistan and International Monetary Fund (IMF) have reached a deal for the release of a US$1 billion tranche after the latter gave its nod to the budgetary adjustments for fiscal year 2022-23.
According to the finance ministry, the International Monetary Fund (IMF) will hand over the economic and financial policy for the renewed deal providing an economic relief package to Pakistan.
Finance Minister Mifta Ismail said in the NA session that although the country is rife with negative sentiments expressed by many financial quarters it looks very likely that the restoration of the IMF programme is in the offing.
