Pakistani rupee extends winning streak against US dollar in interbank
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The Pakistani rupee extended its winning streak to seventh consecutive session as it went up against the US dollar in the interbank market on Wednesday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency appreciated by 24 paisas against the greenback and ended the day at Rs284.14.
Interbank closing #ExchangeRate for today https://t.co/7FuOC7AZu3#SBPExchangeRate pic.twitter.com/hJsyp4r52s
— SBP (@StateBank_Pak) December 6, 2023
On Tuesday, the Pakistani rupee had gained 0.05 percent in value as it had settled for Rs284.38 after an increase of 15 paisas.
Interbank closing #ExchangeRate for today https://t.co/tmXLmG0y08 #SBPExchangeRate pic.twitter.com/eJzretyrdj
— SBP (@StateBank_Pak) December 5, 2023
In a key development, the International Monetary Fund (IMF) Executive Board has issued meetings scheduled till December 14, but Pakistan was not on the agenda as the first review under the $3 billion stand-by arrangement (SBA) programme remained pending.
The current IMF programme of $3 billion is scheduled to end in the second week of April 2024, with around $1.8 billion remaining undisbursed. The Fund released $1.2 billion as the first tranche in July.
Reporter Ashraf Khan