KARACHI: The rupee faced a setback on Friday after it shed its value against US dollar in the interbank on Friday, a day after the State Bank of Pakistan received a loan tranche from the International Monetary Fund (IMF), ARY NEWS reported.
According to forex dealers, the rupee moved downwards by Rs0.38 against US dollar and traded at Rs218.98 as the banks are selling the greenback at Rs219.30. In open market, the dollar is being traded between Rs223 and Rs225.
On Thursday, the US dollar shed value by Rs0.15 against rupee and traded at Rs218.60 while forex dealers said that the banks sold the greenback at Rs219.
In open market, the US dollar traded between Rs217 and Rs219.
The State Bank of Pakistan has confirmed on Wednesday that Pakistan has received a loan tranche of US$1.16 billion from the IMF.
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