Promise of resumption of IMF deals sees rupee gain against US

With the resumption of the loan deal with the International Monetary Fund (IMF) imminent, the rupee made further gains against the US dollar, gaining 1.04% in the interbank market.

The rupee also made gains in the open market.

According to data issued by the State Bank of Pakistan (SBP) on Thursday, the rupee appreciated by Rs2.82.

Having closed at Rs273.33 on Wednesday, the rupee climbed to Rs270.51 on Thursday.

This is the second consecutive day that the rupee has appreciated and the second time this has happened this month.

Since the beginning of February, the rupee has lost only Rs2.62.

Open market

In the open market on Thursday, the price of a US dollar fell by Rs4.5.

From a value of Rs276 on Wednesday, the value of a US dollar in the open market fell to Rs271.5 on Thursday to stay within touching distance of the interbank rate.