The PKR on Thursday started on a good note and gained 46 paisas against the US dollar in the open market. According to details, the Pakistan Rupee gained by 46 paisas against the US dollar in the open market to settle at Rs206 on Thursday morning. The rupee slightly recovered against the US dollar after sliding to a record low of Rs206.46 in the interbank market on Wednesday. The PKR depreciated by 0.63% against the US dollar on Wednesday. However, in the open market, the greenback is trading at 207 to 209. The KSE-100 Index also showed a bullish trend on Thursday morning and gained 128 points. The KSA-100 Index is currently trading at 41,567 points. According to experts, the local currency lost so heavily against the greenback due to the delay in the $6 billion economic relief program by the International Monetary Fund (IMF). The country is facing a balance of payments crisis with the central bank’s foreign exchange reserves falling to $9.2 billion.  Finance Minister Miftah Ismail Sunday asserted that Pakistan will seek a deferred payment plan for liquefied natural gas bought under long-term deals with Qatar as Islamabad faces a balance of payments crisis and falling foreign exchange reserves.

Credit:
Independent News Pakistan-INP