Intraday Report: PKR moves up by 51 paisa

Intraday Report: PKR moves up by 51 paisa

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Karachi: The Pakistani rupee (PKR) extended its gains in intraday trade today, gaining 51 paise to trade at PKR175.90.

The gains were mainly due to market positivity generated by the IMF Board’s approval to release the 6th tranche of US$1 billion under Pakistan’s Expansion Fund Facility (EFF) program.

In the previous session, the local unit closed at PKR176.41 per dollar.

With the approval of the $1 billion loan, IMF lending under the program will increase to $3 billion. The remaining $3 billion will be paid upon completion of the remaining program reviews.

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