Rupee rises two paisa against US dollar in interbank market

KARACHI: The Pakistani rupee rose by two paisa against the US dollar in the interbank market on Tuesday, ARY News reported.

According to forex dealers, the greenback appreciated by two paisa and is trading at 154.25 against the local currency.

The US dollar picked up eleven paisa against the Pakistani rupee in the inter-bank market on Monday.

Earlier, on Feb 14, the International Monetary Fund (IMF) mission had acknowledged that economic activity have stabilised in Pakistan and the country made considerable progress in advancing reforms and effective economic policies besides meeting all end-December performance criteria.

The IMF mission released a declaration after concluding dialogues with Pakistan today which stated that the government made steadfast progress on program implementation which will pave the way for its executive board’s consideration of the review.

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Ramirez Rigo, who led the IMF delegation during talks with the Pakistani officials in Islamabad on the second review of the authorities’ economic reform program, made the statement, “The IMF staff team had constructive and productive discussions with the Pakistani authorities and commended them on the considerable progress made during the last few months in advancing reforms and continuing with sound economic policies.”