Another hammering of Pakistani rupee at the hands of the US dollar was evident in the interbank market on Tuesday as the greenback extended its gains, reported 24NewsHD TV channel.
As per the State Bank of Pakistan, the US dollar went up by 34 paisas against the local currency and ended the day at Rs287.97.
Interbank closing #ExchangeRate for today https://t.co/vMHTt5dlfm#SBPExchangeRate pic.twitter.com/QjlkUZPxx1
— SBP (@StateBank_Pak) June 13, 2023
On Monday, the Pakistani rupee had recorded back-to-back losses against the US dollar to settle at 287.63, down by 0.24% against in the interbank market.
Interbank closing #ExchangeRate for today https://t.co/SOWEBpf2QA#SBPExchangeRate pic.twitter.com/eu5QpSq0Nh
— SBP (@StateBank_Pak) June 12, 2023
In a key development, State Bank of Pakistani Governor Jameel Ahmad had said the country is not considering a bilateral debt restructuring. “As of now there is no plan to enter into any debt restructuring,” Jameel Ahmad said.
“Absolutely no doubt about it. We are not considering any such plan, so there is no question of what will be the haircut,” he added.
Separately, Finance Minister Ishaq Dar had apprised the Chinese official of the International Monetary Fund (IMF) ambivalence.
The resumption of the IMF programme, which remains stalled since November last year, is crucial for the cash-strapped country facing looming risks of default.
Reporter Ashraf Khan