Follow Us on Google News
KARACHI: The Pakistani rupee on Friday registered fifth successive decline against the US dollar, depreciating 0.17% in the interbank.
As per the State Bank of Pakistan (SBP), the rupee settled at 280.57, a decrease of Re0.48.
On Thursday, the rupee had depreciated 0.07% to settle at 280.09 against the US dollar.
According to media reports, the Ministry of Finance (MoF) has finalized its guidelines for negotiations regarding the ongoing program of the International Monetary Fund (IMF), instructing secretaries and deputed focal persons to stay available in Islamabad until the Staff Level Agreement (SLA) is finalized.
With the strong US GDP data supporting the case for higher-for-longer interest rates, the US dollar was expected to rise globally on Friday. Meanwhile, the yen continued to trade below 150 per dollar ahead of a crucial policy meeting the following week.
