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PKR strengthens against dollar as SBP receives IMF loan

The Pakistani rupee continued to strengthen against the dollar in the interbank on Thursday despite the flood emergency triggering economic and humanitarian losess in the country.

The dollar shed Rs1.5 and was trading at Rs217.25 in the interbank market during intraday trade as of 10:10am.

The unit has lost Rs4.67 during the last three sessions since the International Monetary Fund bailed Pakistan out from the risk of slipping into default.

Early estimates put the damage from the floods at more than $10 billion, government officials have said, adding that the world had an obligation to help the South Asian country cope with the effects of man-made climate change.

The major reason for the rupee’s uptrend was due to the deposit of much needed $1.16 billion from the International Monetary Fund’s (IMF).


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