The Pakistani rupee extended its gains against the dollar in the interbank foreign exchange market on Wednesday.
The greenback shed 13 paisas to reach Rs285.39 at the closing of the market, as against the closing of Rs285.52 the previous day.
In the open market, the buying of the dollar was recorded at Rs285.4 while it was quoted at 288 for selling at the time of filing the story.
The value of the rupee has been steadily gaining strength since Pakistan finalised its first review with the International Monetary Fund under the stand-by agreement.
The rupee has also gained strength from the government’s efforts to clamp down on hoarding and smuggling of foreign currency.