Pakistan rupee gains 4.2% against dollar, largest single-day rise in years – central bank data

Pakistan rupee gains 4.2% against dollar, largest single-day rise in years - central bank data

KARACHI, Pakistan : Pakistan’s rupee gained 4.2 per cent against the U.S. dollar on Wednesday’s closing, central bank data showed, the largest single-day rise in years for a currency that has taken a battering in recent weeks on the back of an economic crisis.

The rupee closed at 228.80 to the dollar, up from 238.38 a day earlier, the central bank said, a day after the International Monetary Fund said Pakistan had cleared all prior actions needed to unlock much-needed bailout money.

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