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PKR gains Rs4.43 in interbank

The rupee, which recently set a record low, strengthened by Rs4.43 in the interbank market against the US dollar on Tuesday.

At 11:15 a.m., the local currency was trading at Rs265.2 per dollar in the interbank market, up 1.64 percent from the closing of yesterday at Rs269.63.

The mission from the International Monetary Fund (IMF) arrived in Islamabad to discuss the ninth review may have also helped to boost confidence, he noted.

After the government lifted the price restriction on Thursday, the rupee lost Rs24.54 in the interbank market. According to Ismail Iqbal Securities, it was the biggest one-day decline in both absolute and percentage terms since the new exchange rate system were adopted in 1999.

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