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Tuesday, November 5, 2024

Home Pakistan Pakistani rupee gains 0.43, closes at 282.42 against US dollar in inter-bank

Pakistani rupee gains 0.43, closes at 282.42 against US dollar in inter-bank

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KARACHI – Pakistani rupee gained slight momentum against the US dollar, as it appreciated 0.04 percent in the inter-bank market on Thursday amid repeated pledges of the resumption of the International Monetary Fund (IMF) programme.

The local currency moved slightly upward after witnessing multiple successive losses earlier this week.

Data shared by the State Bank of Pakistan (SBP) revealed that PKR settled at 282.42, an improvement of Re0.43.

Interbank closing #ExchangeRate for todayhttps://t.co/OceLaU3tIK pic.twitter.com/4Gzj0JTabq

— SBP (@StateBank_Pak) March 16, 2023

Investors’ confidence is apparently dented by the unexpected delay in International Monetary Fund (IMF) bailout which is now expected to be completed in the coming weeks as Sharif-led government accepted all demands demanded by US-based lender.

Prime Minister Shehbaz Sharif also assured of unlocking much-needed funds, and further lamented Imran Khan-led government for agreeing on such harsh conditions with the IMF.