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Tuesday, November 5, 2024

Home Business Pakistani rupee slides by 0.31 against US dollar amid IMF bailout delay

Pakistani rupee slides by 0.31 against US dollar amid IMF bailout delay

by Web Desk Staff
April 17, 2023
in Business

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KARACHI – Pakistani rupee lost its upward trajectory and depreciated by 0.11 percent on the first working day of the week during the inter-bank trading.

Data shared by the central bank shows the greenback thrashed local currency and PKR settled at Rs284.71 after losing 31 paisas.

Interbank closing #ExchangeRate for todayhttps://t.co/JXY6kw8YvA pic.twitter.com/W38cfIp4bc

— SBP (@StateBank_Pak) April 17, 2023

Last week, the rupee continued its recovery path against the high-flying dollar in interbank trading in light of IMF assurance about the revival of programme that remained stalled for months.

News of inflows from Riyadh and Abu Dhabi further helped market sentiment with the local currency moving upward.