Islamabad: Forex Association of Pakistan on Thursday said that rupee has appreciated by Rs3 to reach Rs207.50 at 11:04am from the previous day’s close of Rs210.50.
The loosing streak of rupee had a shot in arm due to announcement of a $2.3 billion loan from Chinese banks.
Rupee’s correction was long due, said Mettis Global Director Saad Bin Naseer.
Rupee gained Rs 3 in the inter bank exchange.
Mettis predicted that rupee will gain strength in the coming sessions as expectations of foreign exchange inflows from China and an imminent deal with the International Monetary Fund (IMF) seems eminent.