KARACHI: The Pakistani rupee continued its upward trend against the greenback in the interbank on Monday morning.
According to forex dealers, the PKR appreciated by 67 paisa and around 10:30 am it was being traded at Rs284.30 in the interbank market.
The greenback was being traded at Rs285.50 in the open market, currency dealers said.
The International Monetary Fund (IMF) in November announced 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 meeting will likely to be held on December 07 to approve the staff-level agreement with Pakistan.
Sources said that after the approval from IMF’s Executive Board around US$700 million will be released 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.
