Downward slide of Dollar against Rupee

Author: Web Desk

The US dollar continued its downward slide to the fifth consecutive day against the rupee on Friday. With the greenback shedding around Rs16 in a week in the interbank amid assurance from the IMF for the release of a USD1.17 billion tranche.

In the interbank today, the US dollar shed Rs2.05  to trade at Rs224.10 while banks. According to forex dealers are selling the greenback at Rs226.

In the open market, the dollar traded between Rs221 and Rs223.

The US dollar continued its declining trend in the interbank and open market on Thursday. After the greenback saw a historic decline of over Rs9 on Wednesday.

According to forex dealers, the US dollar slipped by Rs2.65 to trade at Rs226.15 as the banks sold it at Rs227. In the open market, the greenback traded between Rs223 and Rs224.

The International Monetary Fund (IMF) on Tuesday confirmed that Pakistan has achieved all the set targets for the revival of the Extended Fund Facility (EFF) programme.

International Monetary Fund’s (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has achieved all the financial targets set by the fund and the last action was accomplished on July 31 by extending the levy on petrol.

Ruiz said the 7th and 8th reviews have completed. The IMF Executive Board will meet in the third week of August.

Esther Perez hoped that Pakistan will take steps to narrow the funding gap till the board’s meeting.

Share
Leave a Comment

Recent Posts

  • Pakistan

PM’s aide calls on COP29 president, vows to push for climate finance agenda

A high-level six-member Pakistani delegation led by Prime Minister of Pakistan's Coordinator Romina Khurshid Alam…

4 seconds ago
  • Pakistan

Pakistan reaffirms commitment to gender equality at Asia-Pacific moot

Pakistani delegation, comprising Barrister Aqeel Malik, Advisor on Law and Justice, and Allah Dino Khowaja,…

17 seconds ago
  • Pakistan

Naqvi, UK’s Hamish Falconer discuss strengthening Pak-UK relations

Federal Interior Minister Mohsin Naqvi on Thursday met with Hamish Falconer, the UK's Deputy Foreign…

32 seconds ago
  • Pakistan

KP Govt allocates 0.5 percent job quota for transgenders

The Khyber Pakhtunkhwa (KP) government has officially allocated a 0.5 percent quota for transgender individuals…

1 min ago
  • World

Kyiv accuses Russia of launching intercontinental ballistic missile attack

Kyiv on Thursday accused Russia of launching a non-nuclear intercontinental ballistic missile at Ukraine in…

3 mins ago
  • World

India opposition leader demands tycoon Adani’s arrest after US charges

Billionaire Indian tycoon Gautam Adani should be arrested after US prosecutors charged him with paying…

4 mins ago