Pakistani rupee sees more respite against US dollar

The Pakistani rupee saw some more respite against the US dollar as it went up by 71 paisas in the interbank trading on Friday, reported 24NewsHD TV channel.

As per the State Bank of Pakistan, the local currency appreciated by 71 paisas in the interbank trading and ended the day at Rs281.71.

Interbank closing #ExchangeRate for todayhttps://t.co/8aKAMnF8iw pic.twitter.com/eGV9akHv8K

— SBP (@StateBank_Pak) March 17, 2023

On Thursday, after witnessing three successive losses, the Pakistani rupee stood its ground against the greenback, appreciating by 0.15% in the interbank market. The rupee settled at 282.42, an improvement of 43 paisas.

Interbank closing #ExchangeRate for todayhttps://t.co/OceLaU3tIK pic.twitter.com/4Gzj0JTabq

— SBP (@StateBank_Pak) March 16, 2023

On Thursday, Federal Minister for Finance and Senator Ishaq Dar said that the IMF is asking for the materialisation of the commitments made by ‘friendly countries’ with Islamabad.

In a tweet, Ishaq Dar announced that Pakistan will soon receive second installment of $500 million from a Chinese bank. The finance minister “Out of Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan!”

Out of #Chinese ICBC’s approved rollover facility of US$1.3 billion (which was earlier repaid by Pakistan to ICBC in recent months), documentation for second disbursement of US$500 million has been completed by Finance Ministry for release of funds to the State Bank of Pakistan!

— Ishaq Dar (@MIshaqDar50) March 16, 2023

Response to a query raised by an honourable Senator as to the causes of delay in signing off the Staff Level Agreement with IMF during Golden Jubilee Celebrations of the Senate of Pakistan👇 pic.twitter.com/BMECbZNXUs

— Ishaq Dar (@MIshaqDar50) March 16, 2023

Reporter Ashraf Khan