Rupee rebounds on positive news of Chinese loan, IMF programme

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Exchange rate of Pak Rupee rebounded on Thursday in the wake of good news of loan from China and a possible deal with the International Monetary Fund (IMF) as the PKR recovered Rs4.70 against the US Dollar in the interbank trading and closed at Rs207.23 against the previous day’s closing of Rs211.93. According to the Forex Association of Pakistan (FAP), the buying and selling rates of dollar in the open market were recorded at Rs206.5 and Rs209.5 respectively. The price of Euro was depreciated by Rs5.01 and closed at Rs217.73 against the previous day’s closing of Rs222.74. Meanwhile, Japanese Yen lost three paisas to close at Rs1.52, whereas a decrease ofRs6.61 was witnessed in the exchange rate of British Pound, which was traded at Rs252.20 as compared to its last closing of Rs258.81. The exchange rates of Emirates Dirham and Saudi Riyal decreased by Rs1.26 to close atRs56.41 and Rs55.22 respectively.


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