KARACHI: The US dollar continued its falling trend in the interbank and open market on Thursday after the greenback saw a significant decline of over Rs9 on Wednesday.
Rendering to forex dealers, the US dollar slipped by Rs4.02 at the start of the day to trade at Rs224.78 as the banks sold it at Rs226.28.
In the open market, the greenback traded amongst Rs223 and Rs224.
The rupee on Wednesday made a huge comeback against the US dollar in the interbank and open market, a day after the IMF said that the country has contented its last condition of raising the levy on fuel prices.
According to forex dealers, the US dollar lost Rs9.58 today in the interbank in contradiction of the rupee and traded at Rs228.80 while the banks are selling the greenback at Rs229.
In the open market, the US dollar traded at Rs225.50 after seeing a decrease in value by Rs13.
Interbank closing #ExchangeRate for todayhttps://t.co/KyRSLkDLEy pic.twitter.com/5NrcLUqkT2
— SBP (@StateBank_Pak) August 3, 2022
The International Monetary Fund (IMF) on Tuesday confirmed that Pakistan has attained all the set targets for the revival of the Extended Fund Facility (EFF) program.
Exclusively speaking to ARY News, International Monetary Fund’s (IMF) resident representative in Islamabad, Esther Perez Ruiz said Pakistan has attained all the financial targets set by the fund and the last action was consummate on July 31 by spreading the levy on petrol.
Read More: US Dollar losing streak in Market beside the Rupee
Ruiz said the 7th and 8th reviews have been finished and the IMF Executive Board will meet in the third week of August.
Esther Perez hoped that Pakistan will take steps to narrow the funding gap till the board’s meeting.