KARACHI: The Pakistani rupee on Monday depreciated 0.3% against the US dollar in the interbank.
As per the State Bank of Pakistan (SBP), the rupee settled at 281.61, a decline of Rs0.84.
Interbank closing #ExchangeRate for todayhttps://t.co/wZQZ3pkEVj pic.twitter.com/BVEXoCkLer
— SBP (@StateBank_Pak) March 13, 2023
During the previous week, the rupee depreciated 0.82% against the US dollar in the inter-bank market, settling at 280.77, with inflows from China landing in the State Bank of Pakistan’s (SBP) account lending some support to critical levels of foreign exchange.
However, concerns over an incessant delay in the International Monetary Fund (IMF) programme continued to rattle sentiment.
Miftah Ismail, a former federal finance minister, stated on Sunday that Pakistan must guarantee at least 15% taxation of GDP and 15% exportation of GDP in order to avoid IMF programs.
