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PKR continues appreciating against greenback for third consecutive session

The local unit closes at 238.38 in interbank

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PKR continues appreciating against greenback for third consecutive session
GNN Media: Representational Photo

Karachi: The local unit continued to register gains against the US dollar for the third consecutive session in the interbank market on Tuesday.

Analysts attributed the rupee’s recovery with the International Monetary Fund’s (IMF) statement that Pakistan had completed all prior actions required for the review of the Extended Fund Faclity (EFF).

The greenback started losing ground on Friday after the rupee dipped for 10 straight sessions during the last days of July and depreciated around 5 per cent just last week.

At the close of Tuesday's interbank trade, the rupee registered another meagre gain of Rs0.46 or 0.19% and reached 238.38, up from 238.84 in the last trading session.

On the other hand, the currency value remained unchanged at 241 in the open market.

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