PKR appreciates by 2.6 rupees
MG News | April 17, 2020 at 12:16 PM GMT+05:00
April 17, 2020 (MLN): Pak rupee appreciated by Rs. 2.6 or 1.5% against the dollar during today’s session, after opening weaker in the interbank market.
Resultantly, the Dollar was quoted as low as 164.0/164.5 with trades reported at 164.40.
The highest trade reported during the session was 166.95, which was early in the session before the Rupee appreciated.
The approval of SDR 1,015.5 million under the Rapid Financing Instrument (RFI) by Executive Board of the International Monetary Fund (IMF) allowed the PKR to bounce back.
The debt rescheduling facilities, along with provision of funds by international institutions are expected result in further appreciation of the local currency over the year.
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