Rupee makes massive gains in interbank market

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Rupee makes massive gains in interbank market

Local currency closes at Rs275.44 against

 greenback following IMF deal

Money dealers count Pakistani rupees and US dollars at an exchange in Islamabad. — AFP/File
Money dealers count Pakistani rupees and US dollars at an exchange in Islamabad. — AFP/File

KARACHI: The Pakistani rupee on Tuesday further strengthened in the interbank market, a day after making a rich recovery against the dollar following the much-awaited deal with the International Monetary Fund (IMF).

The country on Friday secured a $3 billion short-term financial package from the IMF, giving the economy some much-awaited respite as it teeters on the brink of default.

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