Rupee shows progress; up by Rs1.25 against dollar

KARACHI: With Pakistan’s foreign reserves getting a much-needed boost, the rupee’s performance against the US dollar has also improved. According to the Forex Association of Pakistan, the rupee gained Rs1.25 in value against the dollar on Wednesday.

Dollar is now being traded at Rs204.75 in the interbank market. It had closed at Rs206 yesterday.

Meanwhile, the International Monetary Funds has asked Pakistan to ‘do more’ to secure the combined tranche of $1.85 billion dollars for the seventh and eighth review.

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