KARACHI: The dollar continued its downward trend against the local currency on Tuesday as it lost over 93 paisa, or 0.61 percent in the first 30 minutes of trade at the interbank.
According to details, the dollar was being quoted at Rs153.10 at 10:05am compared to the previous day’s close of Rs154.0379. The rupee is currently at a 22-month high and trading at levels last seen in June 2019.
In this regard, Malik Bostan, President of the Forex Association of Pakistan, said, “The revival of International Monetary Fund’s program and the approval of $500 million by their board have lent support to the rupee.”
“On top of that, other multilateral organisations including $1.3 billion from the World Bank have further improved the fundamentals,” he added.
