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KARACHI: The Pakistan rupee on Friday lost further ground against the US dollar, depreciating 0.29% in the interbank market.
At close, the rupee settled at 295.78, a decrease of Rs0.86, as per the State Bank of Pakistan (SBP).
On Thursday, the rupee was stable against the US dollar, as it settled at 294.92 in the inter-bank.
Interbank closing #ExchangeRate for today https://t.co/EQAQL5zTC2#SBPExchangeRate pic.twitter.com/tJozChlO2l
— SBP (@StateBank_Pak) August 18, 2023
According to a statement from the Finance Division on Thursday, the newly appointed caretaker finance czar, Dr. Shamshad Akhtar, expressed her commitment to fulfilling all international obligations, including those with the International Monetary Fund (IMF).
Additionally, the government ended the previous fiscal year (2022-23) with a budget deficit of 7.7%, or Rs6.521 trillion, while debt service reached a record-breaking Rs5.831 trillion.
According to a summary of consolidated federal and provincial fiscal operation for July-June 2022-23 uploaded by the Finance Ministry on its website on Thursday, total revenue was of Rs9.633 trillion. Tax revenue was Rs7.818 trillion, of which federal tax collection was Rs7.169 trillion and provincial Rs649.559 billion. The provincial surplus was Rs154.585 billion.