Rupee triumphs in seesaw dollar trade

By: News Desk
Published: 10:03 AM, 26 Apr, 2022
Rupee triumphs in seesaw dollar trade
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Oscillation could be seen in the exchange rate of dollar as the greenback shed 43 paisas against Pakistani rupee soon after scoring a 30 paisas gain at the time of opening of trade on Tuesday morning in the interbank, reported 24NewsHD TV channel. 

The rupee edged up against the US dollar by five paisas to Rs186 in the early trading session today but the American currency responded with force and gained 30 paisas and was traded at Rs186.30 but soon the greenback shed 43 paisas and settled the day for Rs185.62.

Yesterday, the dollar was closed at Rs186.05. 

After the International Monetary Fund (IMF) nodded to add $2 billion to the ongoing loan programme for Pakistan, the rupee's position has improved to some extent. 

The previous week saw a swift increase of US currency value as it closed at Rs186.70 against the Pakistani rupee.

The Pakistani rupee bounced back after the new coalition government was formed on April 11. But last week the Pakistani rupee was thrashed by the US dollar amid the rise in demand locally.

Finance Minister Miftah Ismail said on Sunday that Pakistan had asked the IMF to enhance its bailout package from the remaining $3 billion to $5 billion.

Reporter Habib Khan