KARACHI , April 13, 2023: The Pakistani rupee regained Rs1.71, or 0.6 per cent, against the US dollar in the inter-bank market on Thursday.
According to the State Bank of Pakistan (SBP), the local currency settled at 284.91, with an increase of Rs1.71.
This comes a day after the rupee recovered some ground against the greenback, settling at Rs286.62 in the inter-bank market after a gain of Rs1.81 or 0.63pc.
The dollar depreciated Rs1.10 against the local currency in the open market and settled at Rs292.90.
The Pakistani rupee maintained upward trend after an official of the International Monetary Fund (IMF) expressed confidence that the staff-level agreement (SLA) will be signed soon followed by the IMF Board’s approval, as per a statement released by the Finance Division.
The statement comes after Finance Minister Ishaq Dar attended the IMF-World Bank Spring meetings through Zoom from Islamabad. The finance division said Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, also hoped Pakistan would continue its progress on the reforms in various sectors.