KARACHI: According to Geo News, in the opening session of trading today on the inter-bank market, the US dollar was trading at 206.25 despite the uncertainty regarding the IMF's (IMF) loan program's resurrection.
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Dollar up to Rs206.25
Over the course of today's intraday trade, the Pakistani rupee lost 1.09 paisa's in value. Rs206.25 to the dollar was the going rate at 11:30am local time, up from Rs205.16 the day before.
Through the Web Desk's intraday trade, the Pakistani rupiah has fallen by over 1.09 paisa.
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KARACHI: It's not certain whether or not IMF's loan programme would be revived, which pushed the US dollar higher on Wednesday's interbank market. The currency was trading at 206.25 at the start of trade, according to Geo News.
Over the course of today's intraday trade, the Pakistani rupee lost 1.09 paisa's in value. Around 11:30 a.m., the local currency was trading at Rs206.25 to a dollar, up from Rs205.16 the day before.
KSE-100 index rose by 373.47 points or 0.91 percent to reach 41,428.15 points in the morning session of the Pakistan Stock Exchange (PSX), which was in the positive.
Concerns over an IMF programme drive the dollar up to Rs206.25 against the rural
The rupee fell to a new record low on Tuesday as worries grew over whether the country's newly released budget will satisfy the International Monetary Fund.
Interbank rates for the local currency fell to 205.16 per dollar, a record low for the week. There was a decline of 1.3 rupees, or 0.63%, in value. On Monday, the rupee was trading at 203.86.
In the face of a balance of payment problem and declining foreign currency reserves, traders say the rupee has lost strength. [source: Reuters] However, the IMF's remarks on the budget's policies put fresh pressure on the local currency..
"Additional steps" have been requested by the International Monetary Fund (IMF) to enhance Pakistan's budget and align it with the fund's primary goals.
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