Rupee rebounds on positive news of Chinese loan, IMF programme

The Pakistani rupee gained Rs4.70 against the US dollar in the interbank on Thursday, closing at 207.23, following news of an incoming loan from China and a possible deal with the International Monetary Fund (IMF). The rupee closed at 211.93 on Wednesday.

According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs206.5 and Rs209.5 respectively.

The price of Euro depreciated by Rs5.01 and closed at Rs217.73 against the previous day’s closing of Rs222.74.

Meanwhile, Japanese Yen lost three paisas to close at Rs1.52, whereas a decrease of
Rs 6.61 was witnessed in the exchange rate of British Pound, which was traded at Rs 252.20 as compared to its last closing of Rs258.81.

The exchange rates of Emirates Dirham and Saudi Riyal decreased by Rs1.26 to close at
Rs56.41 and Rs55.22 respectively.

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