Thursday, February 9, 2023
HomeBusinessUS DOLLAR LOSES RS7.87 AGAINST RUPEE IN INTERBANK

US DOLLAR LOSES RS7.87 AGAINST RUPEE IN INTERBANK

KARACHI: The US dollar on Wednesday continued its losing streak in interbank and open market against the rupee, a day after the IMF said that the country has fulfilled its last condition of raising the levy on fuel prices, Pak Revenue reported.

According to forex dealers, the US dollar lost Rs7.87 today in the interbank against the rupee and traded at Rs230.51 while the banks are selling the greenback at Rs233.

In the open market, the US dollar traded between Rs238 and Rs240.

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.

Exclusively talking to ARY News, 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.

Read More: US dollar declines to Rs237 in interbank market

Ruiz said the 7th and 8th reviews have been completed and 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.

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