Rupee continues upward trajectory, gains Rs1.65 in interbank market

KARACHI – The rupee continued upward trajectory on Friday, extending its gains against the dollar for the sixth consecutive session.

According to the details, the greenback was being traded at RS225 after shedding Rs1.65 in early morning intraday trade.

A day earlier, the local currency jumped by Rs2.65 or 4.2 per cent in the interbank market and closed at Rs226.15.

After two weeks of battering against the dollar, the rupee fell to its lowest level against the dollar on July 28, closing at 239.94. It then started to bounce back.

It is pertinent to mention that the International Monetary Fund (IMF) on Tuesday confirmed that Pakistan has achieved all the set targets for the revival of the Extended Fund Facility (EFF) program.