ISLAMABAD: The exchange rate of Pakistan rupee against US dollar rebounded by Rs 2.48 or 1.44% in the interbank trading on Wednesday to close at Rs172.78 against the previous day’s closing of Rs175.26.
According to Forex Association of Pakistan, the buying and selling rates of dollar in open market were recorded at Rs173.84 and Rs174.20 respectively.
The Pak rupee showed strength on the back of an announcement by Advisor to Prime Minister on Finance Shaukat Tarin with regard to the provision of US$4.2 billion facility by the Kingdom of Saudi Arabia to overcome Pakistan’s balance of payment issues and resolve energy problems.
The Advisor also hinted at a successful conclusion of the dialogues with International Monetary Fund (IMF) in a couple of days.
Meanwhile, the price of euro which was traded at Rs200.55, depreciated by Rs 2.72 as compared to its last closing of Rs203.27, the State Bank of Pakistan reported.
The Japanese Yen lost two paisas to close at Rs1.51, whereas a decrease of Rs 3.56 was witnessed in the exchange rate of British Pound, which was traded at Rs237.74 as compared to its last closing of Rs241.30.
The exchange rates of Emirates Dirham and Saudi Riyal decreased by 68 paisas each to close at Rs47.03 and Rs46.06 respectively.