KARACHI: The US dollar on Friday nonstop its down slide on the fifth consecutive day beside the rupee with the greenback cracking around Rs16 in a week in the interbank amid pledge from the IMF for the release of a USD1.17 billion tranches.
In the interbank today, the US dollar shed Rs2.05 to trade at Rs224.10 while banks, conferring to forex dealers, are selling the greenback at Rs226.
In the open market, the dollar traded amongst Rs221 and Rs223.
The US dollar sustained its declining trend in the interbank and open market on Thursday after the greenback saw a significant decline of over Rs9 on Wednesday.
According to forex dealers, the US dollar fell by Rs2.65 to trade at Rs226.15 as the banks sold it at Rs227. In the open market, the greenback traded among Rs223 and Rs224.
Interbank closing #ExchangeRate for todayhttps://t.co/GD78ttsX5t pic.twitter.com/sYilynpk9d
— SBP (@StateBank_Pak) August 4, 2022
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.
Entirely speaking to News, International Monetary Fund’s (IMF) resident illustrative in Islamabad, Esther Perez Ruiz said Pakistan has attained all the financial targets set by the fund and the last action was able on July 31 by spreading the levy on petrol.
Read More: US Dollar continued its falling trend
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 slender the funding gap till the board’s meeting.