KARACHI – The Pakistani rupee depreciated to an all-time low against the US dollar, closing at Rs288.43 in the interbank market on Tuesday.
The State Bank of Pakistan’s data showed that the local currency by Rs1.34 or 0.46% for second consecutive day of the business week as it registered 0.85% decline against the greenback on Monday to drop to Rs287.09.
The dollar continued to make strides against the rupee as uncertainty surrounds the revival of the loan programme with the International Monetary Fund (IMF) despite implementing the conditions laid forth by the global lender.
Interbank closing #ExchangeRate for todayhttps://t.co/j6J2I7hRZN pic.twitter.com/DyItuG3SKh
— SBP (@StateBank_Pak) April 11, 2023
Last week, Saudi Arabia assured the IMF of providing additional financial support of $2 billion to Pakistan, one of the key demands made by the global lender to release next tranche of loan to the cash-strapped country.
Minister of State for Finance and Revenue Dr Aisha Ghaus Pasha had confirmed the development on Thursday stating the government has received indication from the IMF that it had received commitment from the kingdom regarding funding.
She said that talks are underway with the United Arab Emirates to seek same commitment before the Staff-Level Agreement with the global lender as the South Asian has already missed multiple deadlines.
Pakistani rupee inches up against US dollar in the open market on 28 March, 2024.
In the open market, the US dollar was being quoted at 278.4 for buying and 281.4 for selling.
Euro moves down to 299.75 for buying and 302.75 for selling while British Pound hovers around 353.75 for buying, and 357.25 for selling.
UAE Dirham AED remains stable at 75.55 whereas the Saudi Riyal saw minor increase, with new rates at 73.70.
Currency | Symbol | Buying | Selling |
---|---|---|---|
US Dollar | USD | 278.4 | 281.4 |
Euro | EUR | 299.75 | 302.75 |
UK Pound Sterling | GBP | 353.75 | 357.25 |
U.A.E Dirham | AED | 75.55 | 76.3 |
Saudi Riyal | SAR | 73.7 | 74.4 |
Australian Dollar | AUD | 182.9 | 184.7 |
Bahrain Dinar | BHD | 739.61 | 747.61 |
Canadian Dollar | CAD | 204.25 | 206.45 |
China Yuan | CNY | 38.74 | 39.14 |
Danish Krone | DKK | 40.30 | 40.70 |
Hong Kong Dollar | HKD | 35.55 | 35.9 |
Indian Rupee | INR | 3.33 | 3.44 |
Japanese Yen | JPY | 1.86 | 1.94 |
Kuwaiti Dinar | KWD | 901.14 | 910.14 |
Malaysian Ringgit | MYR | 59.25 | 59.85 |
New Zealand Dollar | NZD | 168.56 | 170.56 |
Norwegians Krone | NOK | 26.19 | 26.49 |
Omani Riyal | OMR | 724.36 | 732.36 |
Qatari Riyal | QAR | 76.57 | 77.27 |
Singapore Dollar | SGD | 206.25 | 208.25 |
Swedish Korona | SEK | 26.89 | 27.19 |
Swiss Franc | CHF | 313.78 | 316.28 |
Thai Bhat | THB | 7.76 | 7.91 |
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