KARACHI: The US dollar has further depreciated against the Pakistani rupee and now it values 97.90 rupees in the inter-bank market on Wednesday, Radio Pakistan reported.
It said that several prudent measures by the government including ban on import of gold and investment flows have helped strengthen the rupee.
In a statement the State Bank of Pakistan said that the country received foreign direct investment of $523 million in the first seven months of current fiscal year with $106.9 million in the month of January alone.
In addition‚ the expected receipt of $550 million from the International Monetary Fund (IMF) along with the proposed launch of Eurobonds next month has also led to positivity in the foreign exchange market.
On Tuesday‚ the rupee gone up sharply against dollar which declined to 99.90 rupees in the inter-bank market.
