KARACHI: The Pakistani rupee (PKR) on Wednesday witnessed a gain against the US dollar in the interbank market, ARY News reported quoting SBP.
According to the State Bank of Pakistan, the local unit (PKR) recovered Rs0.02 against USD to close at 287.13. The US dollar closed at Rs287.15 the other day.
Meanwhile, the dollar is being sold at over Rs300 in the open market.
Interbank closing #ExchangeRate for todayhttps://t.co/LOOFhYNSP5 pic.twitter.com/iLtWM1zIzt
— SBP (@StateBank_Pak) May 24, 2023
The rupee finished at a record low of 298.93 against the US dollar in last week.
Experts believe the surge in USD was witnessed following a deadlock over the IMF deal and ongoing political unrest in the country.
Following the delay in the revival of $6.5 billion International Monetary Fund (IMF) bailout programme, Pakistan is now looking towards friendly countries for more funding.
The staff-level agreement between International Monetary Fund and Pakistan is being delayed from February 9.
 on Wednesday witnessed a gain against the US dollar in the interbank market, SBP said){kind=link}