Rupee witnesses an increase of 49 paisas at interbank

KARACHI: The rupee recorded an increase of 49 paisa against the dollar at the opening of the interbank foreign exchange market on Tuesday.

The dollar is being traded at Rs174.80. The exchange ended at Rs175.29 on Monday in the interbank foreign exchange market.

Market analysts said that the news of government’s talks with the IMF, to have reached a conclusion and the IMF would soon announce the resumption of the programme, had a positive impact on the greenback.

The buying and selling of the dollar at the open market was recorded at Rs176 and Rs177.5 against previous closing of Rs177 and Rs178.50.