Dollar loses Rs8.5 against rupee in open market, reaches at Rs222

KARACHI (92 News) - Soon after approval of IMF EEF program, dollar lost Rs8.5 against the local currency rupee in the interbank market on Tuesday.

In the interbank market, dollar lost Rs1.80 and was closed at Rs222.12.

On Monday, the Executive Board of the International Monetary Fund (IMF) approved the combined seventh and eighth reviews under the Extended Fund Facility (EFF) for Pakistan, allowing the authorities to draw the equivalent of SDR 894 million (about US$1.1 billion).