Pakistani rupee remains upbeat against US dollar in interbank

Published: 06:56 PM, 14 Dec, 2023
Business
Pakistani rupee remains upbeat against US dollar in interbank

The Pakistani rupee remained buoyant and upbeat against the US dollar in interbank market on Thursday, reported 24NewsHD TV channel.


According to the State Bank of Pakistan, the local currency appreciated by 19 paisas and ended the day at Rs283.51.



On Wednesday, the Pakistani rupee had registered marginal gain against the US dollar as it went up by 0.06 percent, setting at Rs283.61 after an increase of 17 paisas. 



The low-key but positive rupee manoeuvres came as Pakistan awaits outcome of the IMF board meeting on January 11, 2024, about review of Stand-By Arrangement programme.


In a related development, the Ministry of Finance has reportedly asked all ministries/divisions and entities to meet commitments made with the International Monetary Fund (IMF) within the stipulated time to ensure successful completion of the review as well as the overall programme.


Secretary of Finance has stated that the second review under the Stand-By Arrangement (SBA) is scheduled to be held in February 2024; therefore, all commitments including structural benchmarks, quantitative performance criteria, indicative targets and other commitments related to 2nd quarter must be met as agreed with the IMF.


Reporter Ashraf Khan

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