The Pakistan rupee pummeled the US dollar as the greenback lost its value by 13 paisas in the interbank trading, reported 24NewsHD TV channel.
According to forex dealer, the US dollar whose value was appreciating against rupee during last couple of days saw a plummeting during the start of interbank trading on Wednesday and it was traded for Rs176.23.
Yesterday, the exchange rate of the dollar was Rs176.23.
https://twitter.com/hashtag/ExchangeRate?src=hashtag_click
The rate of US dollar which was galloping high rapidly before the release of IMF’s stalled $1 billion tranche, was stopped after the loan programme was revived early this month.
The International Monetary Fund's Executive Board on Feb 2 approved the 6th tranche for Pakistan. The IMF Board met in Washington to take up Pakistan’s request for the completion of the sixth review and released $1 billion tranche under the Extended Fund Facility (EFF).
Reporter Habib Khan