The rupee appreciates further versus the dollar as Pakistan's currency slowly starts to recover.

KARACHI: In the inter - bank market on Friday, the Pakistani rupee strengthened more against the United States dollar as the nation continues to steadily recover from the currency collapse in anticipation of the resumption of the International Monetary Fund's (IMF) loan programme.

After increasing by 2.15 throughout intraday trading, the local currency was exchanged at 224. On Thursday, it increased 2.65 or 1.17 percent versus the dollar to settle at 226.15.

In anticipation of the restart of the International Monetary Fund's (IMF) loan programme, the Pakistani rupee recovered more against the US dollar on Friday in the interbank market as the country continues to gradually recover from the currency crash.

The local currency was traded at 224 after rising by 2.15 during intraday trading. To end the day at 226.15, it gained 2.65 or 1.17 percent in relation to the dollar.

On Wednesday, the Pakistani rupee experienced its best day ever as it increased by Rs9 versus the US dollar. It increased by 4%, the biggest one-day rise since 1999.

The weakened currency was supported by the IMF's upbeat comments, the soft dollar demand from importers for payment, and the dollar selling by exporters.

Trade figures for July lessened rupee pressure, which improved the outlook for the nation's precarious current account deficit.

In July, the nation's trade imbalance decreased by 47% month over month to $2.6 billion, mostly due to a decline in imports.
According to data from the Pakistan Bureau of Statistics, total imports decreased to $4.9 billion in July 2022 from $7.9 milliards the previous month. A prohibition on some goods and fewer petroleum imports were blamed for the fall in imports.