News Desk:
US dollar was available at Rs.206 in Pakistan on Wednesday as the rupee gradually reasserted itself. US dollar Rs.4 in the interbank. This development has come after China’s announcement of a 2.3 billion dollar loan for Pakistan.
According to the Forex Association of Pakistan, the rupee appreciated by Rs4 to reach Rs206.50 at 12:37 pm from the previous day’s close of Rs210.50.
Mettis Global Director Saad Bin Naseer stated that the rupee’s correction was “long due”.
“With news of foreign exchange inflows from China and an imminent deal with the International Monetary Fund (IMF), we believe the rupee will gain strength in the coming sessions,”, he told reporters.