The local unit gained 12 paisas to reach Rs285.52 at the closing of the market, as against the closing of Rs285.64 the previous day.

In the open market, the buying of the dollar was recorded at Rs285.2 while it was quoted at 288.5 for selling at the time of filing the story.

It is pertinent to mention that the Asian Development Bank approved a loan of $180 million for multiple development schemes in Pakistan.

The money has been earmarked for schemes to provide clean water in Rawalpindi and manage solid waste in Bahawalpur.

Reports said that the schemes will benefit 1.5 million people.

Pakistan expects to receive almost $2 billion from multiple international lenders including the ADB over the next month.

The money will take Pakistan’s forex reserves to $9 billion.