KARACHI – Pakistan’s rupee continues to face blows against the US dollar in the inter-bank market on the first working day of the week.
The greenback started the week by gaining 26 paisas against the Pakistani rupee amid looming uncertainty.
Data shared by forex dealers suggest that USD appreciated by 26 paisas and was currently hovering at Rs283.85.
Last week, the local currency improved its position against the dollar, settling with a marginal appreciation.
As International Monetary Fund (IMF) reiterated that it is working with Islamabad to bring the pending ninth review to conclusion once the necessary financing is in place and the agreement is finalised, a report by Bank of America suggested that crisis hit Pakistan will need to pause debt repayments as the government failed to salvage much needed funding from global lender.
Today s currency exchange rates in Pakistan – Dollar, Euro, Pound, Riyal rates on May 8, 2023
