ISLAMABAD
The robust appreciation in value of Pakistani rupee against the US dollar was on its course on Tuesday also as the interbank trading was set into motion.
According to forex dealers, as the business opened the rupee went up by 98 paisas straight and within an hour it further strengthened its gains against the greenback. Overall the rupee has so far gained Rs1.48 and was being traded at Rs212.50. On Monday, the Pakistan rupee ended the day at Rs213.98 up 0.71 percent against the US dollar.
The Pakistani currency is expected to perform much better in the coming days as sources in the Ministry of Finance have confirmed that all obstacles to the loan revival agreement between Pakistan and the IMF have been removed.
The Ministry of Finance said that the Pakistan government had sent a letter of acceptance to the IMF on Monday. The finance ministry said that the IMF will now review the data provided by Pakistan at its board meeting and release the billion-dollar tranche.
After the IMF board review, the State Bank of Pakistan (SBP) Acting Governor and Federal Minister for Finance will sign the final draft. According to sources the IMF Executive Board meeting is likely to be held on August 29, 2022.
