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The State Bank of Pakistan (SBP) has received $500 million from the Asian Infrastructure Investment Bank (AIIB) as part of program financing, according to an announcement made on Tuesday by Finance Minister Ishaq Dar.
The rupee has been under pressure against the US dollar for the past 11 months due to Pakistan’s impending repayment of $1 billion for a maturing Sukuk on December 5, 2022, while foreign currency reserves have continued to decline.
In the interbank market, the native currency last week dipped 0.05% (or Rs0.11) to a fresh six-week low of Rs223.92.
