The Pakistani rupee off to a positive start against the US dollar in the interbank market on Thursday and straight away went up by 17 paisas. According to the information received from the forex dealers, the local currency was appreciated by 17 paisas against the greenback and was currently being traded at Rs283.75.

On Wednesday, the Pakistani rupee failed to hold ground against the US dollar, depreciating by 0.13% in the interbank market. The rupee settled at 283.92, a loss of 37 paisas. The market is still awaiting some good news about resumption of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) programme.

In a key development, Prime Minister Shehbaz Sharif had claimed that the IMF was onboard with the new programme but asked for a step-by-step guarantee “fulfilled from friendly countries before it releases bailout funds”. The prime minister told the National Assembly “We are hopeful that the commitments from friendly countries will also be done.” 

Credit : Independent News Pakistan-INP