KARACHI
The Pakistani rupee recorded a marginal increase against the US dollar in the interbank market on Wednesday, a day after the announcement of the State Bank of Pakistan’s Monetary Policy Committee (MPC) which kept the key policy rate unchanged at 22 percent.
According to the information received from the money traders, the local currency went up by 28 paisas against the greenback and was currently being traded at Rs283.50. On Tuesday also, the Pakistani rupee had registered a slight gain to settle for the day at Rs283.78 in the interbank market.
Experts said the bullish momentum came as overall economic indicators remain positive while investors have set their eyes on the International Monetary Fund’s (IMF) executive board meeting on January 11, 2024.
In a related development, the Ministry of Finance has reportedly asked all ministries/divisions and entities to meet commitments made with the IMF within the stipulated time to ensure successful completion of the review as well as the overall programme.
In another development, Aramco, one of the world’s leading integrated energy and chemicals companies on Tuesday signed definite agreements to acquire a 40% equity stake in Gas and Oil Pakistan Limited.
