KARACHI: Following two days of gains by the US dollar in interbank amid uncertainty over the IMF loan, the Pakistani rupee on Thursday reversed losses ahead of an announcement of the monetary policy by the State Bank of Pakistan (SBP), ARY NEWS reported.
According to forex dealers, the US dollar traded in the interbank at Rs207.91 against the Pakistani rupee after a decline in value by Rs0.08. In open market, the greenback traded between Rs208 and Rs210.
The US dollar on Wednesday gained value against the rupee for the second consecutive day in the interbank, following speculations over a delay in receiving the IMF loan.
The Pakistani rupee lost Rs1.06 in the early hours today as the greenback traded at Rs207.99. In the open market, the US dollar traded between Rs208 and Rs210.
‘It’s on track’
Finance Minister Miftah Ismail on Monday refuted reports claiming that the International Monetary Fund’s (IMF) loan programme for Pakistan had been postponed, saying there was “no truth” to it.
“I have been reading with some amusement all the tweets and stories about IMF program being postponed or delayed due to some anti-corruption law. There is no truth to it. The IMF program is on track,” he wrote in a tweet in response to a news report about IMF programme.
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