KARACHI: Rupee gained another Rs0.74 against the Dollar, dropping the latter to Rs169.8 during the intra-day trading session here on Wednesday.
The ongoing decline in Dollar value is attributed to the $3 billion package announced by Saudi Arabia for Pakistan. With appreciation in Rupee value, exporters, who were holding dollars, have started selling it resulting in the recovery of the rupee.
Market participants are also hopeful for the International Monetary Fund (IMF) package release of $1 billion as Finance Minister Shaukat Tarin and State Bank of Pakistan Governor Reza Baqir have hinted that a good news would be given soon.