Due to dampened demand from importers, the Pakistani rupee is anticipated to gain more ground this week versus the US dollar, according to analysts. The currency of the South Asian country is expected to maintain its stability versus the dollar and other major currencies, according to analysts and market insiders. It will be guided by the monetary policy decision made by the central bank on Monday. The confirmation of the $1.12 loan tranche payment by the International Monetary Fund (IMF) later this month will likely inspire optimism among currency dealers and market analysts. The renewal of Pakistan’s $6b extended financial facility will be discussed and approved at a meeting of the IMF executive board on August 29. After suffering a large loss in value in July, the rupee has already regained 10.33pc of its value this month versus the US dollar and is anticipated to continue to rise. In the interbank market, it ended the week at 214.65 after losing 0.31pc to the dollar.
Pakistani rupee may recover more value ahead of IMF’s board meeting
Published on: August 22, 2022 11:04 AM