US Dollar upsurges again by Rs1.11 in interbank market

KARACHI: The US dollar upsurges by Rs1.21 against the Pakistani rupee in the interbank market on Monday.

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After rise, the US Dollar was being sold at Rs160 in the interbank market.

The US dollar also saw an raise of Rs0.75 in the open market where it was being sold at Rs160.50.

Last week, Pakistan received the first tranche of a loan of $991.4 million from the International Monetary Fund (IMF) under the under Extended Fund Facility (EFF).

According to State Bank of Pakistan (SBP), the country’s foreign exchange reserves now stand at above $15.0431 billion post IMF loan tranche acquisition.

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