Since September 5, rupee has recovered over Rs21 against dollar

KARACHI: The Pakistani rupee gained Rs 1.04 against the US dollar in the interbank today, said data released by the State Bank of Pakistan (SBP)

The US dollar closed at Rs 285.72 in the interbank market on Tuesday, said SBP.

Since September 5, PKR has appreciated by Rs 21.28 against the greenback, climbing to become the best performing currency in the global market.

Rupee continues to strengthen against the dollar

On September 5, PKR-USD parity was at its all-time low on Rs 307 to the dollar. Since the interim setup had taken over, PKR had deteriorated by Rs 2.77 to the USD. On August 11, the USD was seen hovering at Rs 288.49.

The International Monetary Fund (IMF) agreement also caused a deterioration for PKR against the USD, to the tune of Rs 10.28. Before the IMF agreement, PKR was at the parity of Rs 275.44 to the US Dollar.