The Pakistani rupee continued its winning spree against the US dollar in the interbank market as the date for the IMF board to make an announcement on Pakistan’s loan programme drew near, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 12 paisas against the greenback and ended the day at Rs281.28.
Interbank closing #ExchangeRate for today https://t.co/Et6MoqtExl#SBPExchangeRate pic.twitter.com/AVbzt946rT
— SBP (@StateBank_Pak) January 8, 2024
On the last trading on Friday, the Pakistan rupee had settled at Rs281.40.
https://twitter.com/StateBank_Pak/status/1743249668061237432
API Response: Last week was the eighth consecutive week that the local unit advanced against the greenback, a momentum aided by the announcement of a staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) on the first review of the $3 billion Stand-by Arrangement (SBA). The IMF Board meeting is slated to be held on January 11.
In a key development during the previous week, State Bank of Pakistan (SBP) data showed that foreign exchange reserves held by the central bank increased by $464 million on a weekly basis, clocking in at $8.2 billion as of December 29.
Total liquid foreign #reserves held by the country stood at US$ 13.22 billion as of December 29, 2023. For details https://t.co/WpSgomnKT3#SBPReserves pic.twitter.com/hNk9aszYtH
— SBP (@StateBank_Pak) January 5, 2024
Reporter Ashraf Khan