The rupee continued to gain ground against the US dollar on Friday as the latter dropped to a low of Rs215.49 during trading.
According to data released by the State Bank of Pakistan (SBP) on Friday, the rupee continued to appreciate against the US dollar, improving by another 1.57%.
As a result, the rupee gained Rs3.39 in value as the greenback fell to a value of Rs215.49.
The last time the rupee was traded at this level was nearly a month ago on July 18 when the rupee closed in the interbank at Rs215.20.
The depreciation of the US dollar came on the back of news that the International Monetary Fund (IMF) had sent a letter of intent to the Pakistani government ahead of releasing two tranches worth a combined $1.2 billion.
Earlier during intraday trading in the interbank, the rupee gained around Rs3.29 on Friday morning, as it rose to a value of Rs215.59.
On Thursday, the interbank currency market closed with the US dollar valued at Rs218.88 after the rupee appreciated by 1.38% from Rs221.91 which it had closed the previous day.
Since July 28, the dollar has lost around Rs24.45 in value against the rupee.
Open market remains lower
Meanwhile, in the open market, the dollar remained lower than the interbank.
Its value has fallen from a high of Rs247 to Rs212.50, a whopping decrease of Rs34.50.
|UK Pound £||255.00||258.00|
|Japanese Yen ¥||1.56128||158128|
|Indian Rupee ₹||2.35||2.65|
|Chinese Yuan ¥||31.50||33.50|