KARACHI: The Pakistani rupee ended its five-session appreciation run against the US dollar in the interbank market on Thursday.
As per the State Bank of Pakistan (SBP), the PKR closed at 285.27, registering a decrease of Re0.11 against yesterday’s closing.
On Wednesday, the rupee closed at 285.13 against the US dollar.
Last week, the International Monetary Fund (IMF) announced that its staff and Pakistani authorities have reached an agreement on the first review of the $3-billion, Stand-By Arrangement (SBA).
The International Monetary Fund (IMF) executive board likely to approve the staff-level agreement with Pakistan on December 7.
According to sources, the IMF executive board meeting will likely be held on December 7 and is expected to consider Pakistan’s case in the meeting.
Sources said that after the approval from IMF’s Executive Board around US$700 million will be available to Pakistan, bringing total disbursements under the program to almost US$1.9 billion.
Pakistan is also likely to receive $ 1 billion from gulf countries and $ 1.2 billion from Exim Bank whereas China has assured debt rollover for further two years.
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