Rupee continues upward trend against US dollar in interbank

KARACHI: The Pakistani rupee on Tuesday continued its upward trajectory against the US dollar after it witnessed a jump of 0.52 paisa against the greenback in the interbank, ARY News reported.

According to forex dealers, the US dollar is trading at Rs186.57 today in the interbank market.

In the open market, the greenback was trading at over Rs186 against the Pakistani rupee.

The US dollar closed at Rs186.05 in the interbank the other day.

Interbank closing #ExchangeRate for todayhttps://t.co/0zLuqtcDWc pic.twitter.com/YSV106KGWH

— SBP (@StateBank_Pak) April 25, 2022

Finance Minister Miftah Ismail on Sunday agreed with International Monetary Funds’ (IMF) recommendations to reduce fuel subsidies phase-wise.

Miftah Ismail held a meeting with the executive directors of the International Monetary Fund (IMF) in Washington for the revival of the Extended Fund Facility (EFF) programme.

Sources sy that the finance minister hinted to carry forward the IMF program and agreed to curb subsidies on the fuel and electricity phase-wise.