The US dollar continued to give tough time to the Pakistani rupee as it again went up in the interbank trading on Monday. As per the information obtained from the forex dealers, the greenback was appreciated by 57 paisas and was currently being traded at Rs287.50. On Friday last, the Pakistani rupee was depreciated by 0.43 percent in the interbank market, maintaining its rather stable run to settle at 286.93 against the US dollar. In a key development, Prime Minister Shehbaz Sharif had expressed his optimism regarding Pakistan’s chances of striking a deal with the International Monetary Fund (IMF) this month, saying that the government has accepted all the conditions of the global lender and implemented them. PM Shehbaz regretted that the previous government of Pakistan Tehreek-e-Insaf (PTI) reneged on its agreement with the IMF which led to a “very serious economic situation”. The resumption of the bailout programme, which has remained stalled since November, is crucial for the cash-strapped economy facing a balance of payment crisis. The current programme is scheduled to expire on June 30.

Credit: Independent News Pakistan-INP