The State Bank of Pakistan (SBP) said that the local unit currency closed at 261.90 against the US dollar after appreciating an increase of Rs0.61.
Karachi: The Pakistani rupee on Wednesday continued to gain value against the US dollar in the interbank.
The rupee appreciated 0.23% in the interbank market.
The State Bank of Pakistan (SBP) said that the local unit currency closed at 261.90 against the US dollar after appreciating an increase of Rs0.61.
Interbank closing #ExchangeRate for todayhttps://t.co/9u7hjEWRxR pic.twitter.com/uyFgaDNDy3
— SBP (@StateBank_Pak) February 22, 2023
Earlier, the greenback had closed at Rs262.51.
The currency (Pakistani rupee) depreciated by 22.4% during the ongoing fiscal year against the greenback.
The US dollar gained over Rs30 in the interbank market since the Exchange Companies Association of Pakistan (Ecap) removed an unofficial cap on the exchange rate.
The rise is attributed to the resumption of $7 billion Extended Fund Facility (EFF) stalled for months.
Pakistan was eyeing to reach an agreement with the International Monetary Fund (IMF) that would not only lead to a disbursement of $1.2bn but also unlock inflows from friendly countries.
Eight died from suspected Marburg virus in Tanzania
- 5 hours ago
Investigators arrest South Korean impeached President Yoon
- 5 hours ago
Nvidia’s Jensen Huang hints at ‘plans’ for its own desktop CPU
- 23 minutes ago
If there was nexus in APS attack, why there was no military trial: SC
- 2 hours ago
US to removes Cuba from State Sponsors of Terrorism list
- 3 hours ago
CTD Punjab arrests 23 terrorists in operations
- 3 hours ago
25-vehicle convoy carrying relief supplies reaches Parachinar
- 4 hours ago
WB promises $20bn for Pakistan
- 5 hours ago
The best actually real stuff at CES 2025
- 23 minutes ago
Fog: Motorways closed at several places
- 4 hours ago
Apple’s latest iPad Mini is down to its lowest price to date
- 23 minutes ago
Four Khawarij killed in security forces’ N. Waziristan IBO
- 3 hours ago
