KARACHI: In the interbank market on Tuesday, the Pakistani rupee continued to appreciate against the US dollar, according to ARY News.

State Bank of Pakistan (SBP) reports that the local currency increased by Rs1.07 versus the US dollar in interbank trading to close at 206.87.

Interbank closing #ExchangeRate for todayhttps://t.co/BxztniOacU pic.twitter.com/CrkVMQu4D6

— SBP (@StateBank_Pak) June 28, 2022

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The price of the dollar, however, ranges between Rs207 to Rs209 on the open market.
The previous day, the US dollar’s closing price was Rs207.94.

The International Monetary Fund (IMF) and Pakistan have agreed to release a US$1 billion tranche after the latter approved the budgetary adjustments for fiscal year 2022–2023, according to economists, and the currency is now showing signs of recovery.

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