Pakistani rupee hammers US dollar

By: News Desk      Published: 11:17 AM, 14 Jan, 2022
Pakistani rupee hammers US dollar
Representational image.

Apparently buoyed by the passage of mini-budget from the Parliament, the Pakistani rupee on Friday hammered the US dollar in intrabank trading, reported 24NewsHD TV channel.

According to the forex dealers, as the business was set into motion on Friday the Pakistani rupee quickly scored a handsome gain of 38 paisas against the greenback.

The dollar which closed at Rs176.38 on the previous day, was now trading at Rs176.

The strides by the rupee came despite the acceptance of Pakistan’s request by the IMF to delay its board meeting on Jan 12 to evaluate the country’s 6th review of the $6 billion Extended Loan Facility until the end of the current month.

Spokesperson to Finance Minister, Muzzammil Aslam wrote in his tweet on Monday: “International Monetary Fund has agreed to reschedule meeting of its board of directors on Pakistan's request for approval of 6th review of the Extended Fund Facility.”