The US dollar once again performed strongly against the Pakistani rupee in the interbank market on Thursday, appreciating by 53 paisas, reported 24NewsHD TV channel.

According the State Bank of Pakistan, the greenback made a solid gain by adding 53 paisas to its value against the local currency and ended the day at Rs283.92.

https://twitter.com/StateBank_Pak/status/1651546027315580930

On Wednesday, the Pakistani rupee, opening after a five-day gap owing to Eid holidays, had remained largely stable against the US dollar, settling with an appreciation of 0.03%. Although the greenback went up by nearly a rupee when the traded started on Wednesday morning, but it ran out of steam later.

According to the SBP, the local currency had settled at 283.39, an increase of eight paisas on Wednesday.

https://twitter.com/StateBank_Pak/status/1651171266731315201

The development comes after the rupee regained its upward momentum against the US dollar on Thursday last week, settling at 283.47 in the inter-bank market, and as market participants continue to await resumption of the International Monetary Fund (IMF) Extended Fund Facility (EFF), which has been stalled since last year.

Finance Minister Ishaq Dar once again had said the government has met all the conditions of the IMF for revival of the loan agreement.

 
Reporter Ashraf Khan