Exiting FATF gray list & ADB loan helps rupee halt US dollar’s growth

ISLAMABAD: Exiting the money laundering and terrorism funding watchlist and securing a fresh $1.5 billion the Pakistani rupee finally fought back against the US dollar on Monday, gaining Rs0.43 during trading in the interbank market.
The Pakistani rupee after making a minuscule gain on the last working day, rose further to Rs220.41 on Monday against the US dollar.
According to data released by the State Bank of Pakistan (SBP) on Friday, the rupee appreciated by 0.20%.
Earlier on Thursday, the value of the dollar stood at Rs220.95 from which it appreciated by 0.05% to close out the trading week at Rs220.84.
The rupee has cumulatively lost around Rs2.52 in value for seven consecutive days ever since the US dollar started gaining pace.-NNI