US dollar hits Rs215 mark: The US dollar strengthened by 12 paisas in early interbank trading on Thursday, continuing its recent upward trend against the Pakistani rupee.
Since there are still about ten days until the IMF board meeting, which will be held at the end of the month to make decisions about reviving Pakistan’s loan programme, the rupee lost some steam yesterday.
The US dollar was trading at Rs215 as of the morning, according to the foreign exchange dealers, having only gained a meagre 12 paisas against the Pakistani rupee.
The value of the US dollar increased by 98 paisas on Wednesday, reaching Rs214.88 at the day’s end.
Since all barriers to the loan revival agreement between Pakistan and the IMF have been removed, sources in the Ministry of Finance expect the Pakistani rupee to perform significantly better in the coming days.
US dollar hits Rs215 mark
According to the Ministry of Finance, Pakistan’s government sent an acceptance letter to the IMF on Monday. The IMF will now review the information presented by Pakistan at its board meeting and release the $1 billion tranche.
The Acting Governor of the State Bank of Pakistan (SBP) and the Federal Minister for Finance will sign the final version following the IMF board’s review. According to the TV station’s sources, the IMF Executive Board meeting will probably take place on August 29, 2022.
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