Rupee Continues It's Winning Streak Against US Dollar

Abdullah Hussain (@Abdulla99267510) Published August 22, 2022 | 01:32 PM

The latest reports say the US dollar shed its value by Rs0.15 in the interbank and traded at Rs214.50.

KARACHI: (UrduPoint/UrduPoint / Pakistan Point News-August 22nd, 2022) The rupee on Monday continued to gain value against US dollar

The forex dealers said that the US Dollar shed its value by Rs0.15 in the interbank and traded at Rs214.50.

They said, “Banks are selling the greenback at Rs215 while open bank’s selling remained between Rs216 and Rs218,”.

The rupee is making gains as the country has inched closer to securing a loan tranche of US$1.17 billion from the International Monetary Fund (IMF).

Last week, Finance Minister Miftah Ismail said that Pakistan has sent back the signed letter of intent (LoI) to the International Monetary Fund (IMF).

Miftah said that the LoI was sent to the IMF after being signed by him and acting governor of State Bank of Pakistan (SBP).

The International Monetary Fund (IMF) had agreed to the letter of intent forwarded by Pakistan. The IMF has signed the LOI sent from Pakistan and returned it to the country which will now sign it.