ISLAMABAD: The US dollar slowly but surely continued to build up its streak against Pakistani rupee as the greenback again went up in the interbank trading on Thursday. As the forex dealers took positions, the US dollar amid weak economic indicators and unguided political situation appreciated by nine paisas and was currently being traded at Rs224.80. Yesterday, the Pakistani rupee shed only one paisa and settled the trade for the day at Rs224.71. The Pakistani rupee is in the corner due to bleak economic indicators, political uncertainty and concerns regarding default in the face of delayed IMF talks on the ninth review. DNA
\nDuring a TV talk show the other day, Finance Minister Ishaq Dar and his predecessor Miftah Ismail differed on country\u2019s default perspectives.
\nDar was of the view that country\u2019s performance criteria were up to the mark and complete for the IMF ninth review. While, Miftah insisted that the default risk would persist unless the Fund came to the table.
\nHowever, IMF Resident Representative in Pakistan Esther P\u00e9rez Ruiz had said in a statement issued on Tuesday that the discussions between the IMF and the government to date in the context of the 9th review of Pakistan\u2019s Extended Arrangement under the Extended Fund Facility (EFF) have been productive.
\nDiscussions have enabled a revision to the macroeconomic outlook post floods as well as an in-depth evaluation of fiscal, monetary, exchange rate, and energy policies adopted since the completion of the combined seventh and eighth reviews, she added.
\nPakistan is facing shortage of dollars which could be attributed to a number of factors including dollars\u2019 smuggling to neighboring countries, emergence of black market, and payments to foreign lenders. To avert further dollar dearth, the Federal Board of Revenue (FBR) on Tuesday imposed cash carrying limit of $5,000 for travelling abroad.
\nFor individuals 18 years and above, the maximum limit per person per visit in US$ (or equivalent in other foreign currencies) is $5,000 and annual limit per person in US$ (or equivalent in other foreign currencies) is $30,000.
\nFor individuals below 18 years, the maximum limit per person per visit in US$ (or equivalent in other foreign currencies) is $2,500 and annual limit per person in US$ (or equivalent in other foreign currencies) is $15,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD: The US dollar slowly but surely continued to build up its streak against Pakistani rupee as the greenback again went up in the interbank trading on Thursday. As the forex dealers took positions, the US dollar amid weak economic indicators and unguided political situation appreciated by nine paisas and was currently being traded at […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-301481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n