The Pakistani rupee sustained its upward trend against the US dollar, marking a 0.09% appreciation in the inter-bank market for the ninth consecutive session on Friday, showcasing ongoing strengthening against the dollar.
According to the State Bank of Pakistan (SBP), the rupee closed at 283.87 against the US dollar, marking a rise of Rs0.25. This settlement denotes a slight appreciation in the rupee’s value, reflecting a positive trend in its performance against the dollar.
The Pakistani rupee experienced a slight uptick on Thursday, settling at 284.12 against the US dollar. This marginal increase showcased a modest strengthening of the rupee in the foreign exchange market compared to its previous position against the dollar.
According to Bloomberg, the International Monetary Fund’s executive board plans to convene on January 11 to review and potentially grant the final approval for disbursing Pakistan’s next $700 million tranche under its ongoing loan program, indicating a crucial step forward in financial assistance to Pakistan.
