The Pakistani rupee weakened further against the US dollar in the open market on Wednesday.
Currency dealers during the day Job Recorder He said the rupee was priced at 289.5 for customers for selling and 286.5 for buying.
According to data provided by the Stock Exchange Companies Association of Pakistan (ECAP), at the end of Tuesday’s trading, the currency closed at 289 for selling and 286 for buying.
In the interbank market, the rupee was trading at 287 against the US dollar on Wednesday afternoon.
According to the structural criteria set by the International Monetary Fund (IMF), the difference between interbank and open market interest rates must be less than 1.25%.
An important development, International Monetary Fund (IMF) General Manager Kristalina Georgieva Bloomberg TV He said he expected an agreement to be reached ‘within this week’ on the ongoing initial review of the Stand-By-Arrangement (SBA).
These remarks came as an IMF mission led by Nathan Porter visited Pakistan for the initial review of the SBA.
Pakistani officials, led by Caretaker Finance Minister Dr Shamshad Akhtar, on Monday began policy-level talks with the IMF delegation in a bid to secure $710 million of the $3 billion loan programme.
news source (www.brecorder.com)