KARACHI: The Pakistani rupee continues to appreciate against the US dollar in the inter-bank market, with a 0.18% gain on Friday, settling at 284.40, an increase of Re0.51, according to the State Bank of Pakistan (SBP).
This followed a gain of Rs1.71 or 0.60% the day before.
This came after a significant development towards the revival of the stalled bailout programme, the United Arab Emirates (UAE) has pledged to provide $1 billion in bilateral support to Pakistan, according to Finance Minister Ishaq Dar.
Also read: Pakistan’s debt sustainable, $1.1 billion bailout awaited, says IMF
The minister also confirmed that Pakistan would receive an additional $300 million from the Industrial and Commercial Bank of China Ltd (ICBC) on Friday, adding to the $1 billion already received from the Chinese institution.
