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Rupee rises against US dollar, gains Rs5.45 in interbank

The dollar continued to fall against the rupee on Thursday as it slipped to a low value of Rs216.46 during intra-day interbank trading.

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The rupee continues to strengthen after news that Pakistan will receive two tranches from the International Monetary Fund (IMF) within a few days.

The news has meant that the US dollar has seen around Rs27 its worth eroded in the last 10 days.

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On Thursday, the interbank currency market opened with the US dollar rising to Rs221.91. During intraday trading, it dropped to a low level of Rs216.46, losing about Rs5.45 in value.

A declining dollar trend was observed in the first week of August in local currency markets.

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