Rupee again gains ground against dollar

Amid a standoff on an agreement between the IMF and Pakistan, the local currency gained 42 paisas to settle at Rs282.42 against the American dollar at the closing time of interbank trading on Thursday.

According to forex traders, the US dollar continued losing meager values since the past couple of days. Its price was Rs282.85 on Wednesday.

In the open market, the greenback lost Re1 and closed in at Rs285.

Economists say that effects of Pakistan’s possible agreement with the International Monetary Fund are starting to weigh in on the rupee.

The dollar may further depreciate due to the assurances given by the government to the lender.