KARACHI: After experiencing a pullback during the previous two days, the Pakistani rupee continued its upward trend versus the US dollar on Friday.
According to data provided by the State Bank of Pakistan (SBP), the local currency gained 0.14% to settle at Rs214.65 in the interbank market.
Analysts and currency dealers predict that the currency will continue to be under pressure until the board meeting of the International Monetary Fund, which is slated for August 29.
After an absence of more than four weeks, the foreign exchange reserves also increased. Investors’ faith in the local currency was increased by assurances on the availability of US dollars.
