Intra-day update: rupee continues to strengthen against US dollar
The Pakistani rupee registered marginal improvement against the US dollar, appreciating 0.03% during trading in the inter-bank market on Monday.
At 12:45pm, the rupee was hovering at 279.53, an increase of Re0.06 in the inter-bank market.
During the previous week, the rupee continued its appreciation run for the 11th consecutive week as it gained Re0.31 or 0.11% to settle at 279.59 against the US dollar in the inter-bank market.
This marginal yet continuous recovery of the local unit has been on the back of approval of $705.6 million in the second tranche of the $3 billion Stand-by Arrangement (SBA) from the International Monetary Fund (IMF).
