KARACHI: The US dollar on Wednesday sustained its losing streak in interbank and open market beside the rupee, a day after the IMF said that the country has achieved its last condition of floating the tax on fuel prices, NEWS reported.
According to forex dealers, the US dollar lost Rs0.90 today in the interbank in contradiction of the rupee and traded at Rs237.48 while the banks are trading the greenback at Rs238.
In the open market, the US dollar traded amongst Rs238 and Rs240.
The International Monetary Fund (IMF) on Tuesday definite that Pakistan has attained all the set targets for the restoration of the Extended Fund Facility (EFF) program.
Exclusively speaking to News, International Monetary Fund’s (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has realized all the financial targets set by the fund and the last action was proficient on July 31 by prolonging the levy on petrol.
Read More: US Dollar in Interbank and Open Market Drop Beside Rupee
Ruiz said the 7th and 8th evaluations have been finalized and the IMF Executive Board will meet in the third week of August.
Esther Perez hoped that Pakistan will take steps to thin the funding gap till the board’s meeting.