Pakistani rupee gains Rs2 against US dollar in interbank market

KARACHI(A1TV NEWS)The Pakistani rupee registered gained against the US dollar by Rs2 in the interbank market on Friday.

After sliding by 1.13 per cent a day earlier, the rupee was being traded at Rs280.30 at 11:15am today, according to data shared by the Exchange Companies Association of Pakistan (ECAP).

The improvement comes after the rupee remained at the receiving end against the US dollar, closing at 282.3, a decline of Rs3.18 or 1.13% in the inter-bank market on Thursday.

The analysts attributing the recovery to a rise in the central bank forex reserves and expectations that the government and the International Monetary Fund (IMF) would reach an agreement soon.

Yesterday, the dollar closed at Rs282.30, according to the State Bank of Pakistan.