Rupee appreciates by Rs2 against US dollar

KARACHI: Continuing its upward trajectory, Pakistani rupee gained further Rs2 against the US dollar here in the interbank market on Tuesday. The dollar is currently being traded at Rs223.50.

The Forex Association of Pakistan (FAP) pointed out that dollar gained 0.95 per cent in value and is now trading at Rs223.50. The dollar had closed at Rs225.64 on Monday evening.

Pakistani rupee has made a recovery of Rs14.07 ever since the Finance Minister Ishaq Dar took the charge. Dar is renowned for fixing the currency rate. He has publicly stated that he would try to bring down the rate of the dollar – something that is Pakistan struggling to deal with since the country’s foreign reserves are abysmally low.

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