The US dollar’s ascent against the Pakistani Rupee in the interbank market resumed for the third day in a row in KARACHI.
The local currency fell by Re0.28 and concluded at 225.40 vs the US dollar in the interbank market, according to the State Bank of Pakistan (SBP).
The open market price for the dollar is between Rs. 232 and 235, according to foreign exchange brokers.
The Pakistani currency has been under pressure for a few weeks as Pakistan and the IMF discuss the ninth review of a $7 billion loan program, it is important to note here.
Prior to the discussions on the ninth review of a $7 billion loan program, the International Monetary Fund (IMF) had previously requested that Pakistan cut back on spending.