Business
Pakistani rupee strengthen against US dollar
Greenback fell by 89 paisas in interbank
Karachi: The rate of the US dollar has been 0.89 paisas on Thursday after the International Monetary Fund (IMF) approved the release of $1 billion to Pakistan.
According to the State Bank of Pakistan, the value of the US dollar dropped by 89 paisas in the inter-bank market and During the trading, the US dollar slid from Rs176.41 to Rs175.52.
In the open market, dollar’s value remained unchanged at Rs177.50.
The rupee had been under pressure against the dollar for the past nine months. It lost 15.26 per cent (Rs23.25) of its value between May 2021 and January 2022.