According to the State Bank of Pakistan (SBP), the local unit currency closed at 261.90 against the US dollar, appreciating an increase of Rs0.61.
The greenback had closed at Rs262.51 a day earlier.
The currency (Pakistani rupee) has depreciated by 22.4% during the ongoing fiscal year against the greenback.
The US dollar has 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.
Read More: CHINESE BANK APPROVES $700M LOAN FOR PAKISTAN
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.
Sources have revealed that the staff-level agreement between the fund and the government is expected next week.
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