KARACHI: The Pakistani rupee on Monday registered more losses against the US dollar, depreciating another 0.6% in interbank.
At close, the currency settled at 279.26, a decrease of Rs1.67, as per the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/Szwjztp04u#SBPExchangeRate pic.twitter.com/NFuoY1Rvhq
— SBP (@StateBank_Pak) July 17, 2023
During the previous week, the rupee settled with a marginal appreciation of 0.11% to end at 277.59 in the inter-bank market as euphoria over the International Monetary Fund (IMF) programme faded and made way for economic fundamentals.
Finance Minister Ishaq Dar said Pakistan received a cumulative inflow of around $4.2 billion, including the first tranche of the new SBA with the IMF.
Dar also confirmed deposits of $2 billion from Saudi Arabia and another $1 billion from the UAE. The inflows almost double the reserves held with the central bank, which were reported to be at $4.52 billion as of July 7. The fresh inflows will be reflected in the reserves data for July 14.
