US dollar regained losses against rupee and gained value in the interbank despite the country shuffling closer to securing a loan tranche of US$1.17 billion from the International Monetary Fund (IMF).
Rendering to forex dealers, the US dollar increased its value by Rs1.83 in the interbank and traded at Rs216.48. “Banks are selling the greenback at Rs217.10 while open bank’s selling remained between Rs218 and Rs220,” they said.
انٹر بینک میں ڈالر کی اونچی اُڑان جاری
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The rupee is on a winning streak for the last two weeks with some exceptions after the IMF guaranteed that Pakistan has fulfilled all regulations to secure a funding of US$1.17 billion.
Finance Minister Miftah Ismail on Wednesday publicized that Pakistan has sent back the signed letter of intent (LoI) to the International Monetary Fund (IMF).
Talking to media in Islamabad, Miftah Ismail said that the LoI sent to the IMF after signed by him and acting governor of State Bank of Pakistan (SBP).
The International Monetary Fund (IMF) had decided to the letter of intent forwarded by Pakistan. The IMF has signed the LOI sent from Pakistan and reimbursed it to the country which will now sign it.
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They said that the letter of intent was ready by Pakistan a month back and since then IMF pleased over its points and action plan.