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KARACHI: Pakistani rupee on Tuesday remained largely stable against the US dollar in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee closed at 221.65 after an appreciation of Rs0.01.
Interbank closing #ExchangeRate for todayhttps://t.co/VcGK4uq6ss pic.twitter.com/wGe4AFFUXz
— SBP (@StateBank_Pak) November 8, 2022
On Monday, Pakistan’s rupee had registered back-to-back gains against the US dollar and closed at 221.66 after an appreciation of Re0.26 or 0.12% in the inter-bank market. This came after the rupee had remained largely stable during the previous week as well, hovering around the 221-222 level in the inter-bank market even as the US dollar strengthened against other currencies.
In a key development, Federal Minister for Finance and Revenue Ishaq Dar said that the government has secured financial commitments of over $13 billion from friendly countries.
“To fulfil its international and commercial obligations, Pakistan must repay $22 billion over the course of the next 12 months,” Dar stated this in an interview with a private channel on Monday night “The country’s current account deficit is estimated to be about $10 billion to $12 billion, which needs to be paid back.”
“However, we have covered half the mileage … we have secured financial commitments of around $13 billion to $14 billion, which includes commitments from China and Saudi Arabia,” said Dar, adding that he would visit UAE in the coming days.
