Rupee strengthens by 58 paisas against dollar

Rupee strengthens by 58 paisas against dollar

KARACHI: The Pak Rupee strengthened by 58 paisas against the dollar on Friday as positive sentiments prevailed in the foreign exchange market.

The rupee ended Rs154.59 to the dollar from previous day’s closing of Rs155.01 in the interbank foreign exchange market.

Currency experts said that the market was remained positive due to approval of funds for Pakistan. The World Bank today announced $600 million for Pakistan. While on March 24, 2021 the IMF approved $500 million for Pakistan under EFF loan program.

They said that the importers were remained cautious in placing new import orders due to rising case of coronavirus in the country.

The importers were expecting that the government would take harsh measures including strict lockdown in the wake of third wave of coronavirus.

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