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The rupee recorded gains against the United States dollar on Friday, appreciated by 87 pasisas in the interbank trade.
The change took the value of the US dollar from Rs287.38 to Rs286.50 in the interbank trade.
On Thursday, the US dollar fell from Rs288.14 to Rs287.38, a change of 76 paisas.
In the open market, the dollar’s value was seen at Rs287.1 for buying purposes and Rs290.15 for selling purposes.
It is worth mentioning here that two days ago Pakistan had reached a staff-level agreement with the IMF on the first review of a $3 billion bailout.
After approval from the Fund’s Executive Board, Pakistan will have access to around $700 million, bringing total disbursements under the program to almost $1.9 billion, the IMF announced in a statement on Wednesday.
Yesterday the rupee broke its 17-session losing streak after it gained Rs0.76 against the dollar and closed at Rs287.38 against the greenback in the interbank market at the close of the day, State Bank of Pakistan’s data showed. The local currency had closed at Rs288.14 on Wednesday.