Rupee gains against dollar on positive IMF deal expectations

KARACHI: The Pak Rupee gained Rs1.99 against dollar on Tuesday owing to hopes of positive outcome of IMF board meeting on Pakistan loan program.

The rupee ended Rs158.06 to the dollar from the closing of last trading day on June 28, 2019 at Rs160.05 in interbank foreign exchange market.

The foreign currency market was initiated at Rs159.50 and Rs160.50. The market recorded day high of Rs159.75 and low of Rs157.50 and closed at Rs158.06.

The exchange rate in open market also witnessed appreciation in value of the local unit.

The buying and selling of dollar recorded at Rs156.50/Rs157.50 from last Saturday’s closing of Rs159.50/Rs161.00 in cash ready market.

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