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Pakistan Rupee Gains Rs. 1.45 Against Dollar in Interbank, Reaches Rs.260

The Pakistani rupee, which has been recovering after a significant drop to a record low, maintained its upward momentum against the US dollar on Thursday, appreciating nearly 0.56 percent in the inter-bank market. During intraday trading, the local currency was quoted at 260.45, up Rs1.45 against the US dollar. Several factors contributed to the rupee regaining its strength against the volatile currency.

Recently, Finance Minister Ishaq Dar announced that the Board of Directors of the China Development Bank had approved a $700 million facility for crisis-hit Pakistan.

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