US dollar gains value against rupee despite IMF deal
- By Anjum Wahab -
- Sep 02, 2022
KARACHI: The rupee faced a setback on Friday after it shed its value against US dollar in the interbank on Friday, a day after the State Bank of Pakistan received a loan tranche from the International Monetary Fund (IMF), ARY NEWS reported.
According to forex dealers, the rupee moved downwards by Rs0.38 against US dollar and traded at Rs218.98 as the banks are selling the greenback at Rs219.30. In open market, the dollar is being traded between Rs223 and Rs225.
Interbank closing #ExchangeRate for todayhttps://t.co/MFDU1Xf7pn pic.twitter.com/gGrWtxguqC
— SBP (@StateBank_Pak) September 2, 2022
On Thursday, the US dollar shed value by Rs0.15 against rupee and traded at Rs218.60 while forex dealers said that the banks sold the greenback at Rs219.
In open market, the US dollar traded between Rs217 and Rs219.
Interbank closing #ExchangeRate for todayhttps://t.co/X4nH3Yanbp pic.twitter.com/eXpb0sM2d3
— SBP (@StateBank_Pak) September 1, 2022
The State Bank of Pakistan has confirmed on Wednesday that Pakistan has received a loan tranche of US$1.16 billion from the IMF.
2/2 This will help improve SBP’s foreign exchange reserves and will also facilitate realization of other planned inflows from multilateral and bilateral sources.
— SBP (@StateBank_Pak) August 31, 2022