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US dollar continues climb against Pakistani rupee

KARACHI: The United States (US) dollar continued its gains against the Pakistani rupee at the start of week’s trading on Monday, ARY News reported.

According to currency exchange dealers, the greenback registered further gains of Rs0.30 to reach Rs163.40 by 11:30 am in the interbank market.

Read More: US dollar surges by Rs1.12 against Pakistani rupee in a day

The United States dollar had ended 163.10 against the local unit in the interbank market last week.

Earlier, on May 30, Adviser to Prime Minister on Finance Abdul Hafeez Shaikh had chaired a special meeting of the Economic Coordination Committee (ECC) to review the disbursement of Rs200 billion generated from Islami Sukuk bonds.

The committee approved the disbursement criteria for the bonds.

Read More: FBR tax collection goes up by 7.7pc in 2019-20

The ECC decided that the energy purchase price, inclusive of GST, would be paid to ensure maximum generation capacity was available during next three summer months (June, July and August 2020) according to the plan.

The capacity payments will be disbursed to meet the debt servicing and taxation requirements for the period from June to end August 2020 and payments to WAPDA, Nuclear Power Plants.

Read More: Oil prices slip as wary traders eye upcoming OPEC+ meeting

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