Rupee Appreciates By 9.91 Against US Dollar

The local currency has gained value after assurance of Finance Minister Ishaq Dar about IMF deal.

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-March 3rd, 2023) After assurance of Finance Minister Ishaq Dar about the IMF deal, the Pakistan rupee started gaining ground against the US Dollar in the interbank market.

The rupee appreciated by Rs9.91 in the interbank market during the intraday trade and was changing hands at 275.18 against the greenback.

Exchange Companies Association of Pakistan (ECAP) also confirmed the development.

The market started gaining hope on Finance Minister Ishaq Dar's assurances of striking a deal with the International Monetary Fund (IMF) next week.

The rupee yesterday went down by nearly Rs19 against the US dollar owing to the central bank's monetary policy review and concerns over a stalled IMF deal.

The rupee closed at 285.09 against the dollar in the interbank market as per the State Bank of Pakistan (SBP), down from Wednesday's close of Rs266.11.