KARACHI: The Pakistani rupee on Thursday recovered Rs1.71 against the dollar in the interbank market, ARY News reported quoting SBP.
According to State Bank of Pakistan, the local unit recovered Rs1.71 against USD to close at 284.91. The US dollar closed at Rs286.62 the other day.t
This month, the dollar traded in the range of Rs280-288 in the interbank market while it touched Rs295 in the open market.
Currency dealers believe the market increased on a speculative report about a $1 billion commitment by the UAE.
A virtual session between Pakistani and International Monetary Fund (IMF) officials on the bailout package will be held on Thursday (today).
Finance Minister Senator Ishaq Dar and Deputy MD International Monetary Fund Antoinette M. Sayeh will attend the meeting. Other members of Pakistan’s economic team will also be in attendance in the session.
The sides will exchange views over the progress on the International Monetary Fund’s loan package for Pakistan.
A progress is being expected for the staff level agreement with the lender.
Finance Minister Ishaq Dar will brief the meeting about the economic challenges to Pakistan and reforms being introduced in the system.
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