KARACHI: The Pakistani rupee on Monday recorded a slight increase against the US dollar, appreciating 0.01% in the interbank.
At close, the currency settled at 286.71, an increase of Rs0.03, as per the State Bank of Pakistan (SBP).
Interbank closing #ExchangeRate for today https://t.co/B6ok2w4Yzv#SBPExchangeRate pic.twitter.com/RGVDe7rqAV
— SBP (@StateBank_Pak) June 26, 2023
On Friday, the rupee ended its three-session winning streak against the US dollar, registering a decline of Re0.01 to settle at 286.74.
During the previous week, the Pakistani rupee remained largely stable and traded in a narrow range over the five-day period. The local currency recovered Re0.52 or 0.2% to end the week at 286.74.
As the 9th review of the Extended Fund Facility (EFF) programme is still ongoing, Pakistan is not on the agenda of the International Monetary Fund (IMF) Executive Board meetings scheduled till June 29.
Ishaq Dar, the finance minister, reported that the government increased taxes by Rs215 billion later on Saturday as Islamabad prepared to restart the IMF plan.
