The value of the US dollar decreases by 24 paisas against the Pakistani rupee as intrabank trading got underway on Thursday.
The dollar, which dealt the Pakistani rupee some significant blows over the past few days, was trading at Rs207.75 after losing 24 paisas.
The US dollar gained Rs1.05 on Wednesday, ending the day at Rs207.99. The US dollar had surpassed Rs209 in the open market.
The Pakistani rupee, which had been steadily strengthening against the US dollar for almost a week, lost some of its momenta on Tuesday when its value plunged significantly by 2.38 in interbank trading.
It was noted that the rupee began to appreciate against the dollar in the interbank market after the announcement of the Memorandum of Economic and Financial Policies (MEFP) received from the IMF for the combined 7th and 8th reviews on June 28.
The latest decline in rupee value, according to experts, was caused by rising dollar demand and pressure from repayments.
