Business
Rupee goes down by Rs3.78 against US dollar
The State Bank of Pakistan says the US dollar has concluded at Rs283.04, marking a 1.34% increase compared to the previous day's closing rate of Rs279.26.
Karachi: The Pakistani rupee on Tuesday experienced a depreciation of Rs3.78 against the US dollar in the interbank market on Tuesday, as per data from the State Bank of Pakistan (SBP).
According to SBP, the US dollar concluded at Rs283.04, marking a 1.34% increase compared to the previous day's closing rate of Rs279.26.
Meanwhile, in the open market, the dollar is being sold at Rs287. It's noteworthy that the Pakistani rupee had witnessed a gain of over Rs10 in the past week since the approval of the IMF loan programme.
On Thursday, Pakistan received the first tranche of $1.2 billion from the International Monetary Fund under the SBA (Stand-By Arrangement) programme.