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KARACHI: The Pakistani rupee on Thursday gained more ground on the US dollar, as it appreciated 1.04% in the interbank market.
As per the State Bank of Pakistan (SBP), the currency closed at 270.51 against the US dollar, an increase of Rs2.82. The currency has depreciated by 23.7% during the ongoing fiscal year against the greenback.
The rupee had also made significant strides against the US dollar on Wednesday, closing at 273.33 against the US dollar, an appreciation of Rs2.95 or 1.08%.
Interbank closing #ExchangeRate for todayhttps://t.co/h41q3JSeF6 pic.twitter.com/DQ58zWRzx3
— SBP (@StateBank_Pak) February 9, 2023
In a significant development, Pakistan’s Finance Minister Ishaq Dar stated on Thursday that talks with the IMF are “on track” and that “positive news will be announced soon.”
Speaking to the media, Dar stated that negotiations between the two parties had reached the final stage, that progress had been “acceptable,” and that he hoped talks would end today.
Dr. Aisha Ghaus Pasha, a minister of state for finance, had earlier claimed that the IMF and the prime minister had struck some sort of arrangement.
She acknowledged that the IMF wants more clearance on some issues but said discussions are moving in a positive direction and the government’s entire focus during the negotiations has been on protecting the common man.
