The Pakistani rupee on Tuesday gained massively in the interbank market following a deal with International Monetary Fund (IMF).

Taking a cue from the Pakistan Stock Exchange (PSX) which scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured the last-gasp funding deal from the Washington-based lender.

The country on Friday secured a $3 billion short-term financial package from the IMF, giving its economy some much-awaited respite as it teeters on the brink of default.

The greenback was being traded at Rs274.98 after losing 11.1 in the interbank. It closed at 285.99 on June 27 — the last trading session before the Eid holidays.