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KARACHI: The Pakistani rupee recovered against the US dollar on Thursday following the finance minister’s confirmation that Pakistan has signed $2.3 billion loan agreement with China and hopes of a deal with the International Monetary Fund (IMF).
According to the details, the local unit appreciated by Rs2.93 today morning in the interbank market on hopes that inflows from China are expected soon.
The dollar was trading at Rs209 in the interbank market at about 10:45am. A day earlier, the rupee closed at an all-time low of Rs211.93 against the greenback, according to the State Bank of Pakistan (SBP).
More to follow…
