Pakistani rupee sheds few paisas against US dollar in interbank
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The Pakistani rupee recorded a marginal loss to the US dollar as it depreciated 0.14% in the interbank trading on Tuesday, reported 24NewsHD TV channel.
According to the State Bank of Pakistan, the local currency dropped by 31 paisas against the greenback and ended the day at Rs279.43.
Interbank closing #ExchangeRate for todayhttps://t.co/Pdm3U8Qxyb#SBPExchangeRate pic.twitter.com/rXK7ITKqh4
— SBP (@StateBank_Pak) October 24, 2023
On Monday, the Pakistani rupee had also ended down 0.11% against the US dollar, settling at Rs279.12, losing 32 paisas.
Interbank closing #ExchangeRate for todayhttps://t.co/bEThWJNeZj#SBPExchangeRate pic.twitter.com/knhBFSTxV2
— SBP (@StateBank_Pak) October 23, 2023
In a related development, the Ministry of Finance (MoF) had reportedly asked all ministries/divisions to be ready for the first review of the International Monetary Fund’s (IMF) Standby Arrangement (SBA) to ensure successful completion of the review.
A favourable review by the Washington-based lender will pave way for release of the second tranche and funding from other multilateral partners.
Meanwhile, the Economic Coordination Committee (ECC) of the Cabinet had approved a massive increase in gas tariff.
Reporter Ashraf Khan