The Pakistani Rupee continued its recovery against the US Dollar for the ninth consecutive working day as supply for the greenback increased consistently compared to its demand in the system, which has relieved pressure from the local currency.
According to the State Bank of Pakistan (SBP), the Pakistani Rupee (PKR) closed at Rs. 215.49 against the US Dollar (USD) on 12 August 2022 (Friday), which is appreciation of Rs. 3.39 (1.57%) compared to 11 August 2022 (Thursday), when it closed at Rs. 218.88 against the foreign currency.
Read more: USD to PKR – Dollar Rate in Pakistan – 12 August 2022.
The Pakistani Rupee continues recovery amid assurances from the International Monetary Fund (IMF) for the release of a USD 1.17 billion tranche.
The International Monetary Fund (IMF) has confirmed that Pakistan has completed all the set requirements for the revival of the Extended Fund Facility (EFF) progreamme.
