Pakistani rupee strengthens versus US dollar in Interbank

• The dollar resumed its depreciation spree against the Pakistani rupee in the interbank. With the downfall of 27 paisas, the price of one dollar is Rs204.85
• The value of the United States Dollar was reduced by Rs1.75, and the new price was Rs205.12 from Rs206.87

KARACHI: On the fourth trading day of the week, the dollar resumed its depreciation spree against the Pakistani rupee in the interbank. With the downfall of 27 paisas, the price of one dollar is Rs204.85, BOL News reports.

A day earlier, the value of the United States Dollar was reduced by Rs1.75, and the new price was Rs205.12 from Rs206.87. The official Twitter handle of the State Bank of Pakistan (SBP) has also confirmed in a tweet about the new prices of the US dollar depreciating against the rupees.

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According to the report, the US dollar has depreciated by 7 rupees in the last seven days. On June 2, the dollar prices increased to a massive amount of Rs211.93. The economic experts claim that the dollar’s depreciation against the rupee possibly happened because of the positive news related to the new deal with the International Monetary Fund (IMF). On the other hand, the dollar rates in the open market have also been slashed.