US dollar continued its upward curve in the exchange market beside US dollar. Despite Pakistan receiving a US$1.16 billion loan tranche from the International Monetary Fund (IMF).
According to forex dealers, the greenback gain Rs0.72 in the interbank to trade at Rs229.90 in contradiction of rupee. Although the banks are selling it at Rs230.40.
In open market, the US dollar is being traded amongst Rs235 to Rs237.
The Pakistani rupee sustaina to lose ground alongside the US dollar for the sixth consecutive session. Plunging to Rs228.18 interbank trade on Friday.
Rendering to SBP, the Pakistani rupee fell by Rs2.76, depreciating 1.21 percent from yesterday’s close of Rs225.42.
In the meantime, the greenback was being transacted at Rs234 to Rs236 in open market. The forex Association of Pakistan (FAP) said.
Interbank closing #ExchangeRate for todayhttps://t.co/XPxvJI8TpO pic.twitter.com/gVkb2yt1ZN
— SBP (@StateBank_Pak) September 9, 2022
The rupee’s battering sustained despite the 1/2 Today, #SBP has received proceeds of USD 1.16 billion (equivalent of SDR 894 million) after the IMF Executive Board completed the combined seventh and Eight review under the Extended Fund Facility (EFF) for Pakistan.