The Pakistani rupee remained unchanged against the US dollar in the inter-bank market on Friday. The State Bank of Pakistan (SBP) said in a tweet that the rupee opened at 277.93 against the dollar in the interbank market and closed at the same rate. The local unit gained two paisas against the greenback this week after gaining 19 paisas last week. Overall, the rupee has improved by Rs10.36 against the greenback during the current fiscal year 2023-24. The local unit improved by Rs1.16 in March, Rs0.39 in February, Rs2.36 in January and Rs3.31 in December, while it shed Rs3.69 against the US dollar in November after gaining Rs6.26 (+2.23 percent) in the month of October. Similarly, the local unit gained traction against the greenback in the open market. The rupee was quoted at 278.15 for buying and 280.15 for selling, according to data provided by different exchange companies. The rupee surged against the greenback by Re1 in March and February, Rs2 in January and Rs3.50 in December. In a key development, the International Monetary Fund (IMF) said its Executive Board meeting is expected to be held in “late April” where approval would pave way for Pakistan to receive funds of around $1.1 billion (SDR 828 million) as its final tranche of the $3-billion Stand-By Arrangement (SBA) inked last year in June. This was stated by IMF Communication Director Julie Kozack while addressing a media briefing. On the country’s economic fundamentals, the IMF official said Pakistan’s economic and financial position has improved in the months since the first review was completed. “Growth and confidence are continuing to recover. And we will be releasing in the next weeks, as part of our World Economic Outlook, our latest growth forecasts for Pakistan.”