RUPEE’S SLIDE AGAINST US DOLLAR AMIDST IMF MEETING TODAY
The US dollar’s hike against rupee continued on Monday unabated as the International Monetary Fund is all set to decide on regarding the release of US$1.18 billion loan tranche for Pakistan today.
According to forex dealers, it has been observed that the US dollar rose approximately by Rs1.34 in the interbank and to trade at the rate of Rs222 while banks are selling the greenback at Rs222.50.
The US dollar is being traded between Rs229 and Rs231 in the open market.
The rupee’s slide after weeks of recovery against US dollar continued on Friday with greenback selling at Rs230 in open market.
Sharing a break-up of the foreign reserves position, the central bank has marked that the foreign currency reserves held by the State Bank of Pakistan were recorded at around $7.81 billion.
RUPEE’S SLIDE AGAINST US DOLLAR AMIDST IMF MEETING TODAY
The amount of total liquid foreign reserves held by the country stood at $13.52 billion, said the SBP. Moreover, the SBP also cited that the decline in reserves of Pakistan is due to challenges related to external debt and other payments.
