Last week, the International Monetary Fund (IMF) announced that its staff and Pakistani authorities have reached an agreement on the first review of the $3-billion, Stand-By Arrangement (SBA).
PKR continues recovery against USD in interbank market
- By Web Desk -
- Nov 20, 2023
KARACHI: The Pakistani rupee maintained its upward trajectory against the US dollar for the fourth consecutive session, as it appreciated by Rs0.53 in the inter-bank market on Monday.
As per the State Bank of Pakistan (SBP), the rupee settled at 285.97, an increase of Re0.53.
During the previous week, the rupee had finally snapped its losing streak as it closed the week 0.18% or Re0.53 higher to settle at 286.50 in the inter-bank market against the US dollar on Friday.
According to market experts, the Pakistani rupee is appreciating against the greenback as Pakistan and the International Monetary Fund have reached an agreement on the first review of the 9-month SBA.