KARACHI: Pakistani rupee on Thursday registered a marginal loss against the US dollar for the 12th successive session, depreciating 0.07 percent in the interbank market.
As per the State Bank of Pakistan (SBP), the rupee declined by Rs0.17 to close at 227.12.
On Wednesday, the rupee depreciated against the US dollar for the eleventh successive session to settle at 226.95 after a decline of Rs0.01.
Interbank closing #ExchangeRate for todayhttps://t.co/tPdjhgXaeF pic.twitter.com/97tBLTCNAM
— SBP (@StateBank_Pak) January 5, 2023
Meanwhile, Saudi Arabia “is likely to bulk up its deposits in Pakistan in a few days,” said Federal Minister for Finance and Revenue Ishaq Dar on Wednesday.
“A rollover,” he claimed in a press conference, “is not an unusual event.”
“Every country in the world has the option of rolling over debt or borrowing fresh money to pay down previous obligations.” Dar declared, “We have decided to roll over the deposits.”
The reserves of Pakistan were, according to him, clean until 2018 and no other country had deposits in Pakistan.
Dar said the country’s foreign exchange reserves are projected to be in a much better shape by June 30, 2023. He said that there is no issue in the 9th review and the present government is committed to completing the International Monetary Fund (IMF) program.
