PKR registers meager gain against dollar in interbank
KARACHI: The Pakistani rupee on Tuesday extended its gaining streak to the third successive session against the US dollar, appreciating 0.02% in interbank.
As per the State Bank of Pakistan (SBP), the rupee settled at 277.87 against the greenback, an increase of Rs0.05 in the interbank market.
Interbank closing #ExchangeRate for todayhttps://t.co/lJOhgj0Yix pic.twitter.com/VsH8YNAtq0
— SBP (@StateBank_Pak) March 7, 2023
The improvement in Pakistan’s foreign exchange reserve position led to the currency’s Monday settlement at 277.92, an increase of 0.19% against the US dollar.
The Industrial and Commercial Bank of China (ICBC) this week delivered $500 million to Pakistan’s central bank, the first of three payments that were authorized for rollover.
In a key development, the Executive Board of the International Monetary Fund (IMF) agreed to temporarily increase the limits on members’ annual and cumulative access to Fund resources in the General Resources Account (GRA).
