KARACHI: The Pakistani rupee appreciated against the US dollar by 18 paisas (+0.06 percent) in the interbank market on Friday. The State Bank of Pakistan (SBP) said in a tweet that the dollar opened at Rs287.37 in the interbank market and closed at Rs287.19. During the current fiscal year 2022-23, Pakistani rupee has lost Rs81.30 against the US dollar in the interbank, while it plummeted by Rs60.86 against the greenback in the current year. However, the local unit faced a depreciation of Rs2 (-0.68 percent) against the greenback in the open market. The rupee fell for the second day in a row against the US dollar in the open market and was quoted in the range of Rs294-297 in the open-market as compared to a range of Rs292-295 a session earlier. According to currency experts, stabilisation in exchange rate hinges on the revival of the International Monetary Fund (IMF) loan programme. In a related development, Finance Minister Ishaq Dar said on Thursday that global institutions want Pakistan to default like Sri Lanka and then enter negotiations. TLTP
